1. The LP
The LP in music means "Long Play". This is a typical full-length album.
In the past, LP is used to refer to a 33 and one-third rpm microgroove vinyl record. As soon as the era of Compact Discs (CD) started, we started referring to the full-length albums released on CD as LP.
However, in the digital era, LP music is referred to as track numbers. In most cases, an LP album is a 10 to 12-track album.
2. The double LP
The double LP or the double album is the term used for an audio album that spans two units of the primary medium in which it is sold, typically either records or compact discs.
Double LPs have always been associated with being an artist’s greatest work.
3. The EP
Extended-play, or EPs, are shorter than a typical album but longer than a two-sided single, typically featuring 4-5 tracks with a playtime of around 10 to 25 minutes.
Nowadays, EPs are very common among new artists. It is comparatively easy for a new artist to write 4-5 songs instead of a full-sized album. Artists can show more creativity on an EP than on a single as they can write more songs.
4. The single
The single is probably the most famous type of music right now. As the name suggests, a single typically contains one track. However, it may sometimes contain more than one track but the total playtime is generally less than an EP.
Many artists find releasing a single every couple of months better than releasing an album once in a year or two. Also, many artists also use singles to tease the upcoming albums.
In short, the single is a really important part of modern music.