From DMJ Productions

An extended play (EP) is a musical recording that contains more tracks than a single but fewer than an album or LP record. Contemporary EPs generally contain up to eight tracks and have a playing time of 15 to 30 minutes. An "EP" is usually less cohesive than an album and more "non-committal".

An extended play (EP) originally referred to a specific type of 45 rpm phonograph record other than 78 rpm standard play (SP) and 33 rpm long play (LP), but as of 2023 applied to mid-length CDs and downloads as well. EPs are considered "less expensive and time-consuming" for an artist to produce than an album, and have long been popular with punk and indie bands.

From Wikipedia