Once upon a time records came in four flavors, known by the revolutions per minute required to play them normally -- 16, 33 1/3, 45, 78.
78s were popular from the advent of the Victorola to the rise of the LP, I believe in the 1940s. Old blues, gospel, and jazz 78s are big collector's items.
33 1/3 RPM records were better known as LPs. LPs delivered 20-30 minutes of music per side, compared to the 10-15 minutes or so per side of the 78. Thus, LPs rapidly replaced 78s as the primary means of distributing music. By the 1950s the record companies barely sold 78s. By the 1980s you were hard-pressed to find a record player that had a "78" option.
16 RPM records were meant to deliver even more music on a 12-inch platter than an LP. Problem was that a 16 RPM record was very lo-fi, and the format didn't last all that long. However, it was a lot of fun playing LPs at 16 RPM for the Thurl Ravenscroft-like sound.
And then there were 45s. Two songs, that's all. But dirt cheap. They were the currency of musical youth for years, until the C90 blank tape arrived and the mix arrived.
By the 1970s, tape was starting to replace vinyl. It was more portable (imagine trying to put a turntable in the car) and could hold more music (an LP a side on the C90 tape. Reel-to-reel came first, followed by the 8-track, and finally the cassette. They eroded vinyl sales, but it really wasn't until the CD -- and the ensuing record company push onto the format -- that "killed" vinyl. By the late 80s, new albums were CD and cassette only, not on vinyl. LPs did live on, though, through independent releases and Pearl Jam continuing to print LPs.
And there's a brief lesson in the history of the vinyl record. Hec will be by to correct my mistakes shortly.