Here’s more on Telefon Hirmondo from The Book of Radio, by someone called Charles William Taussig in 1922:

Hungary.–With the exception of government telegraph installations, there was no radio development evident in Budapest. Mr. Howell did find, however, the Budapest Telephone newspaper, known as the Telefon Hirmondo, to be still flourishing after some twenty-seven years of “publication.”
This enterprise consists of forty-two wire-telephone party lines, among which are distributed some 6,000 subscribers who, though unable to call central, can all be talked to at one and the same time by a man in the central office, called a stentor. News, instruction, and entertainment is afforded by this “newspaper” in accord with a regular daily program. The service begins at nine in the morning and continues until ten o’clock at night. Besides, short or continued stories are read to subscribers each afternoon, supplemented on several days of the week, by story telling for children. Likewise, lectures and speeches may be heard by those who prefer to stay at home. During the war, an hour of instruction in the French language was afforded each afternoon, but recently English has supplanted French in the Hirmondo’s curriculum, and the course is immensely popular. Under the Empire, the Royal Band gave afternoon concerts and the music was transmitted to the Hirmondo’s subscribers through microphones stationed at the band stand, but as there is no longer such an imperial organization to discourse, this service has been necessarily terminated. However, opera is afforded each evening to every home served by this enterprise. Mr. Howell was in the offices of the Hirmondo at five o’clock in the afternoon, or about an hour before opera begins in that city, and heard the stentor reading into the microphone the personnel of the artists on the program that evening. Later, upon the invitation of the manager, he went to his home where they listened to Wagner’s “Walkyrie” communicated from microphones located in and about the stage of the Budapest Opera House. He found listening to opera under such conditions highly pleasing, as a human touch was communicated, such as is not possible with a phonograph, in fact, one could shut one’s eyes and almost imagine the stage in front. Plans were on foot for the radio reception of opera from Berlin and to transfer the same directly to the Hirmondo’s wires. The cost of this service prior to the war was sixty-one cents per month, each subscriber having two receivers; however, more receivers could be had at a slightly increased cost. Because of the depreciation of Hungarian currency, at a rate more rapid than the Hirmondo has been able to increase its charges, the cost per month is now only about four cents. The Manager stated that there is a great demand for extensions of the Hirmondo’s lines, but unfortunately capital is not available for the purpose. It was also stated that similar enterprises have been initiated in Lyons, France; Milan and Rome, Italy. However, such developments in these cities are in their infancy.
On inquiry in regard to using the system for advertising purposes, it was stated that this had been attempted but that subscribers resented what they deemed an interference with the service and, as a consequence, the idea has all but been abandoned. Advertisers, however, are quite willing to use the service in a measure. In fact, the opera house authorities and various Gypsy bands look upon the advertising opportunity offered by the Hirmondo as of so much value that they grant the privilege of placing microphones for the transmission of their music and entertainment, practically without charge.