upaśrutya bhaven modaḥ
śrīvatsāṅkasya kiṁ punaḥ
Bhāgavatam literally means the pastimes of the Lord and the Lord’s devotees. For example, there are pastimes of Lord Kṛṣṇa and narrations of devotees like Prahlāda, Dhruva and Mahārāja Ambarīṣa. Both pastimes pertain to the Supreme Personality of Godhead because the devotees’ pastimes are in relation with Him. The Mahābhārata, for example, the history of the Pāṇḍavas and their activities, is sacred because the Pāṇḍavas had a direct relationship with the Supreme Personality of Godhead.