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After writing an unlimited series for a while, I can say that the whole series loses value if you don't:
1 Offer a story of worth in each book.
2 Provide something of a significant size.
3 Wrap it up eventually so your readers have a sense of arrival, or closure from time to time.
Even when ending on a cliffhanger, you have to give everyone the feeling that they experienced a significant event with the main characters, and when that next book comes out, it had better live up to the first, otherwise your readers are going to fetch their pitchforks and torches.
Speaking as a reader, I don't pay for anything under 30,000 words. It's also important to mention that the Wheel of Time lost me at around book 7 because I couldn't see an end in sight, and all the characters had pretty much leveled off and stopped developing. it was an example to learn from. So, do I go for a 1,000 - 2,000 word serial? Not since I was about 12 and reading Azimov's. It was around then that I started skipping them.
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