The Magyar Brands program only considers Hungarian brands that were established in Hungary or Hungarians participated in their establishment. The selection process is complex, winners are selected on the basis of: financial data, evaluations by consumer and independent professionals. The Fonó received the award in 2015, 2018, 2019 and now in 2020 they receive the award for the fourth time.

The Magyar Brands Professional Committee evaluates the nominated brands according to three basic criteria: identity - the brand’s connection the brand to Hungary: the brand’s reputation amongst consumers; the best methods of brand building in Hungary. The Excellent Consumer Brand indicates that the brand fulfills the three criteria mentioned above, along with tradition, reputation, and popularity .

Now celebrating its 25th anniversary, the Fonó has also won the Prima Primissima and Hungarian Heritage awards, functioning not only as a cultural space, concert and dance house venue , but also as festival organizer such as the Budapest Folk Fest and the Héttorony Fesztivál. The Fonó has also embedded its name in the public mind as the best folk and world music label in the Hungary and the region as a “WOMEX Top Label”.

The Magyar Brands program has been evaluating Hungarian brands for 11 years now - in the interest of drawing attention the best performance and achievements [amongst Hungarian companies].