Nebulaprisen er blevet beskrevet som en af "de vigtigste af de amerikanske science fiction-priser" og "science-fiction- og fantasy-ækvivalenten" til [[Emmy Award]]s.<ref name="Guardianquote">{{cite web |last=Flood |first=Allison |title=Ursula K Le Guin wins sixth Nebula award |url=https://www.theguardian.com/books/2009/apr/28/ursula-k-le-guin-nebula |work=[[The Guardian]] |access-date=2011-12-12 |date=2009-04-28 |archive-url=https://web.archive.org/web/20090801031449/http://www.guardian.co.uk/books/2009/apr/28/ursula-k-le-guin-nebula |archive-date=2009-08-01 |url-status=live}}</ref><ref name="TechRepquote">{{cite web|last=Garmon |first=Jay |title=Geek Trivia: Science-fiction double feature |url=http://www.techrepublic.com/article/geek-trivia-science-fiction-double-feature/6122314 |publisher=[[TechRepublic]] |access-date=2011-12-12 |date=2006-10-03 |archive-url=https://web.archive.org/web/20120214164526/http://www.techrepublic.com/article/geek-trivia-science-fiction-double-feature/6122314 |archive-date=2012-02-14 |url-status=live }}</ref> Sammen med [[Hugo Award]] betragtes Nebulaprisen også som en af de førende priser inden for science fiction, med Laura Miller fra ''[[Salon (website)|Salon]]'' kalder det "science fictions mest prestigefyldte pris", og [[Justine Larbalestier]], i "The Battle of the Sexes in Science Fiction" (2002), og refererer til den og Hugo-prisen som "den bedst kendte og mest prestigefyldte af science fiction-priserne".<ref name="SALONnebula">{{cite news |last=Miller |first=Laura |title=The Death of the Red-Hot Center |url=http://www.salon.com/books/feature/2000/08/11/guide_intro |work=[[Salon (website)|Salon]] |access-date=2011-09-20 |archive-url=https://web.archive.org/web/20110129233845/http://www.salon.com/books/feature/2000/08/11/guide_intro |archive-date=2011-01-29 |date=2011-08-20 |url-status=live}}</ref><ref name="BOTSSF">''The Battle of the Sexes in Science Fiction'', p. 255</ref> [[Brian Aldiss]], i sin bog ''[[Trillion Year Spree: The History of Science Fiction]]'', hævdede, at Nebula Award gav "mere litterær dømmekraft", mens Hugo var et barometer for læsernes popularitet, snarere end kunstnerisk fortjeneste, selvom han bemærkede, at vinderne af de to priser ofte overlappede hinanden.<ref name="TYS">''Trillion Year Spree'', p. 349.</ref>
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