That's similar to how Dickens wrote A Tale of Two Cities[1].
"The 45-chapter novel was published in 31 weekly installments in Dickens' new literary periodical titled All the Year Round. From April 1859 to November 1859"
Likely more people will read a book in short chunks because it looks less imposing. And it gives you an opportunity to "pivot" your story if it's not going well.
[1] http://en.wikipedia.org/wiki/A_Tale_of_Two_Cities
