The first Icelandic record was 78 rpm, recorded in Copenhagen in 1910. From the middle of the 20th century, there were big changes in the distribution of music when slower and more flexible vinyl records appeared. Íslenzkir tónar released the first Icelandic 45 rpm records in 1954. The first 33 rpm record (LP) was released in 1956 and featured pianist Gísli Magnússon. The album was released by His Masters Voice (HMV) and distributed by Fálkinn.

A photo of this first Icelandic LP adorns the cover of Fálkinn´s album catalog compiled by Ólafur Jónsson in 1956, but he was the head of the recording department of Fálkinn. The catalog contains 175 records with about 50 bands and musicians. There are 140 Icelandic songs on the albums and large number of songs by foreign authors, most of them with Icelandic lyrics. The catalog is divided into five sections: Solo songs, quartets and choirs, classical music, dance and popular songs and various albums with readings, rhymes, etc.

The catalog also contains information about the main artists, a list of Icelandic songs in alphabetical order and a list of publication numbers. The catalog can be viewed here.