Yes, yes it does. At least it does for me. I haven't read as much and bought as many books in decades. A considerable part of my media consumption time has shifted away from series, movies and internet back to books. Mostly because it's so damn easy to get the next book. And the next. Etc.
Since then, I read way more than before (about 25 books per year, fiction and non-fiction, sometimes 2-3 in a week, sometimes nothing for a month). I also feel like I read faster.
I mostly read in English, although my native language is German, because translation is so damn easy (just point your cursor in front of a word), because English books are often way cheaper on the Kindle and there's simply a bigger selection, and because I enjoy reading English books in their original language.
Fun fact: a fully loaded kindle weighs more than an empty kindle, by about 10^-18 grams. So, at a maximum of 50mb per book, each book would come in below 12.5 zeptograms (normally below 0.25 zeptograms).