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I don't think it's so far-fetched. It reminds me exactly of reading comics, horoscopes or sports stats in the paper every morning, or listening to a morning radio show. I can easily imagine regular readers of periodical content... we've had that in the U.S. for years. It just has to be properly packaged, and find a following, to work.
Cost would also be a factor: How much would you charge for how much content? Do you use a pay-as-you-go micropayment system, a subscription model, or something else? Does it start free and charge after the story is 50% done, or after a critical mass of downloaders has been reached? Some interesting models could come out of that.
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