The Hungarian Record Company (the predecessor of Hungaroton) was founded in 1951 by the state. Due to the company's position, in addition to Hungarian classical and popular musicians, even the best actors in the country made recordings here, resulting in a valuable sound archive of tens of thousands of titles. After lengthy preparations, Hungaroton was privatized in 1995 and became part of the Fotex Group. As of 1 January 2013, Hungaroton was merged into Fotexnet Ltd., preserving publishing activities and the brand name.

Over the past decade, Hungaroton's activities have shifted from releasing physical records to digital distribution in response to changing consumer behavior. By utilizing the technology and development experience of Fotexnet to digitally process and deliver the audio library on modern platforms, Hungaroton has become an export-oriented retailer, primarily using digital channels.

The label puts emphasis on maintaining the traditions of the past by recording with the most respected and successful classical artists. It also launched a series of audiobooks featuring actors who won the Kossuth and Jászai Mari Prizes.