We, as Gauḍīya Vaiṣṇavas, not only study bhāgavatam deeply and but also care to share it with others. But sometimes we wonder about the meaning of the title 'Śrīmad Bhāgavatam'.
Śrīmad-bhāgavatam is a single sanskrit compound word. A compound word in sanskrit consists internally of multiple words, but still it should be considered as a single word, just like the english compound word "school-bag".
The two words in that compound are "Śrīmat" and "bhāgavatam". "Śrīmat" becomes "Śrīmad" ('t' changes to 'd') because of sandhi in sanskrit.
Śrīmat means "that which has Śrī". Śrī means lakṣmī, beauty, opulence, success, fortune, treasure, power, majesty, etc. So Śrīmat would mean that person or work which possesses any/all of these. (note the word Śrīmān is also derived from Śrīmat).
Bhāgavatam comes from the word bhagavat. Bhagavat is the stem word (aka crude form, prātipadika in sanskrit) of the word bhagavān, the supreme Lord. Bhāgavatam means that which is related to bhagavān. So bhāgavatam could mean that whose Lord is bhagavān, indicating a work. Or it could mean those whose Lord is bhagavān, indicating the devotees).
Śrīmad-bhāgavatam then means "the work whose Lord is Bhagavān, and this work is endowed with beauty, opulence, etc". Or "the work which describes about the devotees, and this work is endowed with beauty, opulence, etc."
But if you want to say to others in simple words, you can say Śrīmad-bhāgavatam means "the beautiful bhāgavatam", or "the beautiful work that talks about Kṛṣṇa and his devotees".
Very nicely explained!!!
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