I read to children a lot. I've read to my nieces and nephews when they were smaller and I've read bedtime stories to children when I babysat. I read to my Wednesday morning homeschool kids (one day I was reading to the older ones and even the "too cool for story time" kids joined us). I read to classes when I sub and we have a bit of time at the end of the day. One evening I was babysitting for friends, and after the little ones were in bed I started to read the older ones The Story of Doctor Dolittle. It was only supposed to be a few chapters before their parents came home, but their parents were later than anticipated, so I read them almost the whole book. When I was working as a tutor two days a week for friends, I read to their children for part of class (it was historical fiction, so very educational). When I visit one family, their youngest is always eager for me to read to him (and any of the older children who are around; they're so used to being read to by their parents that they don't even pretend to not listen).
So yes, I read to children a lot. I think it's an important part of childhood and even adulthood. I've read to babies and high school kids and they all like it. I have friends who read to each other on road trips (the person not doing the driving does the reading). I remember the joy of being read to. Audio books are popular not only because you can listen while you do other things, but you're experiencing the joy of being read to.
Reading to children is beneficial for a variety of reasons. First, it introduces children to books in a way that is enjoyable for them and makes reading a good thing. Books are associated with happy times and people who care about them. When they learn to read, they're finding old friends in the pages of a book and it's easier. In fact, if they already have an idea of the story, reading goes faster and they get better at it without even realizing it.
It also allows children to enjoy stories that they aren't ready to read yet. This is obvious for younger, non-readers, but is true for older children as well. They may not have the reading ability for novels, but they have the listening ability to enjoy them. They may not understand everything just yet, but they can usually follow the story line, and they will get more in a few years if you read it again. I have a friend who reads to all her children at once regardless of their ages; she rereads favourties every few years and the children get more out of it each time.
Reading to children teaches them to understand how stories flow and how good writing sounds. When they cuddle up with you for picture books, they can see how reading goes from left to right, and they may start to recognize words. Listening to stories can teach thinking skills as they learn to wonder "what next" and to think about why someone might do something or if the story makes sense. They also sometimes apply what they hear to the world around them, noticing that someone is acting like a character in a book for example. And they learn to narrate stories as they tell someone (or everyone) about their new favourite story.
Besides all this, reading to children is fun. It's also a very relaxing activity: you're curled up on the couch or sitting on a comfy chair, sharing a favourite story with someone. The world around you may be crazy, but you get to sit in a little bubble of calm and just read.
