It can be both.

LOTR is the gold standard of Fantasy, and if you got anywhere near that, it was always recommended. I grew up in the 70s and 80s, so well after the novels were published, and they were still ubiquitous.

Which of course does not negate the introduction that the animated series or movies had on their continued popularity. Each experience can be different. All roads can lead to Rome.

I would say that there's a reason LOTR remains huge, while C&H is mostly nostalgia by an aging fan base. LOTR reinvents, C&H is locked in a decision point in time.

I guess in like 65 years it'll enter the public domain and we'll see if dome enterprising publisher decides its worth repeating.