Record/Record

Ok, this is a minor grievance, but can we all collectively decide on a definition for 'record' (i.e. "reh-kerd")?

Some listeners, creators, writers refer to a singular 'record'.  One song, which may or may not exist on an album.  Others use the term to define an album.  So who is right?

I venture to guess this confusion is tied to the history of a recorded medium--the vinyl 'record' --on which singles but also entire albums were distributed.

"You hear the new Skynyrd?"

"Yeah, that's a great record!"

One fan may refer to an LP, the other to a single.  Both correct, but neither is clear.  Whether they understood each other is another question entirely.  For what it's worth, the Recording Academy have since 1958 awarded 'record of the year' to a single.  A song, that when recorded achieved some level of excellence by their standards.