At the end of 1975, "Horses" was voted the second best album of the year, behind Bob Dylan and the Band's "The Basement Tapes", in the Pazz & Jop, an annual poll of American critics published in "The Village Voice". "NME" placed it at number 13 on its year-end list of 1975's best albums. According to writer Philip Shaw in his 33⅓ book profiling the album, the enthusiastic reaction to "Horses" from the music press quickly assuaged observers' suspicions that Smith had sold out by signing to a major label. The positive critical reception, along with substantial promotional efforts by Arista, ensured that "Horses" enjoyed healthy, if not particularly high, sales.