This seems like a fun way to pass some time with the kids. There are songs for the very young as well as rock and roll for the older children.

Here is a sample, but you can find many more on Google. Here is a custom search query to help you find the videos that you'll be interested in. Classic sing-along songs for kids, the whole library for older children to browse.

I wonder if singing karaoke with little children will help them learn how to read. It seems likely, and certainly won't do them any harm!