noun
favorite album; favorite record
Refers to a music disc, LP, or album that one especially likes and listens to repeatedly.
このアルバムは私の愛聴盤です。
This album is my favorite record.
彼の愛聴盤はクラシックの名盤ばかりだ。
His favorite albums are all classic masterpieces.
愛聴 means 'listening with pleasure' or 'being a fan of a particular music/radio program'; 愛聴盤 is the specific record or album one loves to listen to.
Compound of 愛 (love) + 聴 (listen) + 盤 (disc/record). The exact origin is uncertain, but it follows a common pattern for naming a cherished object.