Public panoramas faded away in the 1880's and '90's, even before the invention and exhibition of film. But as they vanished from the eyes of the paying public, they re-emerged in the form of miniature scrolling views, designed for home exhibit, or sold as toys for children. An enterprising draughtsman by the name of Milton Bradley offered toy-size box panoramas for sale, and these became the foundation of the later Milton Bradley Company (now part of Hasbro), which brought baby boomers such classic games as Battleship, Twister, Operation, and even Hungry Hungry Hippos. Panoramic toys, alas faded from view over time, although the same idea was used in some later toys, such as Mattel/Disney's "Mickey Mouse Scrolling Television." It was left to the early twenty-first century for panoramas to be revived in modest scale by "crankies," a new form that has taken the world by storm in the past few years, thanks in part to notable artists such as Katherine Fahey, Anna and Elizabeth, Sue Truman, and Dejah Leger (please click on all of these links -- you will not be diappointed!).
The Magic Lantern, in contrast, never really went away at all, but simply changed form. The magic lantern evolved into the Stereopticon, the last big public-lecture system, which was used extensively well into the early decades of the twentieth century. Lanternist Terry Borton recently compiled a study of the Chautauqua Lecture Circuit, compiling a table of all those lecturers who used the Stereopticon. To give some idea of how many lectures on this circuit were given, Borton notes that one man -- "Sunshine" Dietrich -- who over the course of 14 years delivered 3,333 lectures in 35 different states! At the same time, lantern lectures were re-packaged for home use, bringing them back into the domestic sphere, with the domestic version bringing what had been a public entertainment into the private sphere (a move that has later been repeated with audio, film, and video entertainments).
Eventually rechristened the "slide projector," it reached its zenith in the Kodak Carousel. The Carousel stopped production years ago, but today's PowerPoint and Prezi systems, among others, are still based on the exact same idea of sequential images. In recent years, the original Magic Lantern, with its brass-mounted lenses, dissolving views, and period slides, has been making a comeback as well.