I read all the time–books, magazines, the back of the cereal box in the morning. Generally it has been a one-way communication. I read the book or magazine, and that’s it. With the growing popularity of blogs, though, even my magazines are becoming very interactive.
Fast Company (one of my favorites) does more than just put their content or table of contents online. They have a community they call “circle of friends” that includes a bunch of local groups that actually meet in person(!). There’s also a book club, and some free mail newsletters, and of course a blog right on the home page. Does this reduce their circulation because people can access all this for free? Doesn’t look like it to me–they seem to be doing well. And even with all this, I still subscribe to their printed magazine.