I read a lot of SFF, but the actual Hugo / Nebula winners don't really move up in my reading list compared to the other nominees.
Maybe the "winner" sticker drives some paper book sales?
Maybe the "winner" sticker drives some paper book sales?
[1]: https://en.wikipedia.org/wiki/List_of_joint_winners_of_the_H...
https://humanlegion.com/hugo-award-sales-figures/ has some data for one year. "They do have an effect, but probably no more than a few thousand sales for most books, maybe over ten thousand for the luckiest, and then only in exceptional years."
Look at juried awards like the Clarke award if you want something that isn't just a popularity contest.