I had heard of Scribed.com, but hadn't paid it any attention until GalleyCat mentioned that the site is up to 50 million readers.

I went to the site to check it out. Basically, Scribed is a little like Lulu.com without the money (or the paper books). Authors post their work; the site makes it readable. A lot of the works there are posted by publishers, as web-based chum, to draw in readers. An example is ccfinlay's new book from Del Rey, The Patriot Witch. When you launch it on Scribed, you get a nice, pretty "i-paper" copy on screen.

So, reading isn't dead, it's merely evolving, just like publishing.