As a consumer, I prefer bands release full albums. I like to put it on while I’m working or in the car. I like checking out the full band. This still works for established bands and with touring they can keep the attention on the album.
As an independent guy releasing music, if I release an album, it takes longer to make and any momentum it gets is quickly gone. Releasing singles regularly can keep a steady momentum. Then just make playlists out of them so someone can still listen to all your music kind of like an album.
I use Chartmetric which gives good stats across all social media streams, playlists, etc…
As an example, here is Michael Neilsen’s release he did a couple months ago. The month he released it, it had some traction but month 2 it quickly started to fall away. His album has 15 tracks and probably took a while to make. I think it would have been better to release 1 song per month for 15 months, but just my opinion. Obviously he wanted to do a full album and I admire that.
But as a small band or a lone guy, I think it makes sense to release singles at a steady pace. Maybe once you build enough momentum and regular streams then switch to full albums especially if you can tour.