Many companies developed different systems for recording video on a tape cassette, but the first VTR (short for Video Tape Recorder) to become popular and make money was the Ampex VRX-1000, which was introduced in 1956 by Ampex Corporation. It cost US$50,000 in 1956 (over $400,000 in 2016 money), and US$300 (over $2,000 in 2016 money) for a 90-minute reel of tape. Because it was so expensive, it was made and sold only for professional recording.