I think the LP reached it's peak in the 70's 80's when artists wrote songs with a theme for the album in mind. Which songs they chose and in which order were careful considerations to give the LP it's identity. Pink Floyd were masters of this, "Wish You Were Here, The Wall, Dark Side of the Moon" as was Led Zeppelin and many others.
The music industry, especially in the social sense, the market, since has been moving towards singles and away from the 'album' concept. Sure, there is considerations to be had which song to go on the album, but not in the perspective of creating an LP that is an 'entity onto itself'. Our society's attention span grows shorter by the second every year and is not conducive to sitting to listen to a 'whole album' as was a popular past time in decades past
To illustrate this, we can look to Caley's Stageit.
Nick posted the entire, unedited show on Youtube (The Album)
it just broke 42K views
On my Channel, I edited out and posted just the performances (singles)
Sail has combined almost 68K views
HTRJ has combined almost 38K views
My Cake has combined almost 26K views
The top 3 viewed Stageit performances, combined, are viewed almost 3 times as much as the whole show.
All the Stageit videos combined have roughly over 195K views
If I were able to monetize the views (which I can't obviously because I don't own the rights to any of them) I would be 'making' more money than Nick. In Youtube, the key to making money apparently is to make lots of short videos regularly, create a subscription base so people return often and see more ads.
Sure, those with longer videos make money too, but to optimize it, you need to grease the wheel, do episodes instead of long stories.
21st century media consumption has been socially engineered towards the sound bite and short attention span
