Founded in 1875, the Liszt Academy is the only institution bearing the name of Ferenc Liszt in which the great composer himself had an active role in establishing. The university, which has been functioning for more than 140 years, is the bastion of music teaching and musicology in Hungary. The Grand Hall boasting unparalleled acoustics is a legendary concert venue in the Art Nouveau conservatory (1907) on Liszt Ferenc Square. Since its reconstruction in 2013, the institution has handled independent professional concert organizing activities and earned itself a reputation globally both as a university and a concert centre. In 2016, the Liszt Academy won the European Heritage Label for its outstanding role on the European music scene, for its preservation of European traditions, its creativity and openness worthy of the spirit of Ferenc Liszt, and for its dynamism springing from the duality of university and concert centre activities.