What might successful on-line fiction look like? Some thoughts:
It would be serialized. Like Dickens, or any of the penny-dreadfuls, on-line fiction would probably need to be serialized. Subscriptions, or feeds, could thus be enabled.
Each episode would be short. Technology does not seem to encourage lengthy perusal, or extended meditation. The reader could easily capture the day's episode on their iPhone, or what-have-you.
Each episode would attempt to chart and excite desire. This one has always seemed like a no-brainer, but it is usually the obvious that needs expressing.
More anon, as the possibilities occur. And, as ever, throw your own thoughts into the stew.