The Musikverein in Vienna is considered to be one of the three finest concert halls in the world and was opened on January 6, 1870. Since 1939, the famous Vienna New Year's Concert of the Vienna Philharmonic is broadcast from its Golden Hall to an audience of one billion in 44 countries. The members of the Vienna Philharmonic, which is regularly considered one of the finest orchestras in the world, are chosen from the orchestra of the Vienna State Opera.
The Vienna Philharmonic can trace its origins to 1842, when Otto Nicolai formed the Philharmonische Academie. This orchestra took all its decisions by a democratic vote of all its members, and these are principles still held today.