What Steve Jobs actually said about iBooks market share

There’s been a bit of controversy about what Steve Jobs said yesterday (video here) in regard to the market share of the new iBookstore. To recall, Apple opened a new front in the electronic book wars when it introduced iBooks alongside the iPad two months ago. iBooks, sold in a proprietary DRM-locked format only at Apple’s iBookstore, can be read only on iPads right now with an app for iPhones and iPod Touches coming soon. Here’s what Jobs’ said yesterday in San Francisco:

I’ve got a few stats today for you. In the first 65 days, users have downloaded over 5 million books and that is about two and  half books per iPad which is terrific. The other interesting thing is the five of the six biggest publishers in the US who have their books on the iBookstore tell us that the share of ebooks now that are going through the iBookstore now is about 22 percent. So iBooks market share now of ebooks from five of these six major publishers is up to 22 percent in just about 8 weeks. And, as we ship more iPads, that number is just going to keep going up and up and up and we’re really thrilled with it.

So, Jobs did properly limit his description of iBooks “market share” as being just about US sales of ebooks by the five big publishers participating in Apple’s offering. With one biggie opting out so far (Random House) and no global sales included, the 22% figure obviously wildly overstates Apple’s real market share in ebooks.

So why were some people confused? I’d say it’s all Apple’s fault. First for not streaming Jobs’ keynote live to everybody and, second, for including the slide pictured at the top of this post which simply says “Share of total eBook sales.” That’s not accurate.