Children who are used to reading from a young age tend to read more when they are older. And they will like it better. Which can come in good use when they have to do so much reading when in high school.
Reading together is bonding time. The picture below shows my dad who is reading to me (the one with the finger in her mouth) and two friends a story. I still have very fond memories of my dad reading to me and my brother. In our pajamas on top of my brothers bed. And dad with that big story book. Reading out loud to us. If the story was too long we had to wait till the next day to hear the ending of it.
Reading will spark the imagination of children. Going on an adventure with the main character of the book. Dancing with fairies, fighting dragons, going to school like Christopher Robin, or waiting for him to come home together with Pooh Bear. They can all do this safely on their bedside without having to leave the home.
And children who have had the joy of somebody reading to them will probably pass it forward. Like my brother. He had a favourite story when he was a young kid. He found his favourite book again and started reading it to his son. And guess what, he loves the book. So much he can actually qoute it by heart!
Please share stories with children, so they learn the joy of stories and hopefully will share them when they are grown up.