Budget reissue label of Festival Records (NZ) Ltd. in New Zealand, active from c.1966. Albums were issued in both mono and stereo, starting from R-1 (mono), with stereo releases having the "R" prefixed with "S" and the number prefixed with "9", so that the stereo equivalent of R-1 was SR-91, a mono R-91 would be stereo SR-991, and so on. Some albums, although pressed with Calendar labels, would use the LP's original cover, with or without stickers placed over the previous label logo and catalogue number.