LyricFind and Musixmatch began to dominate the space.
They may be in for a rough time though, now that Google is incorporating lyrics into the results of any search for a song, as you can see from the graphic on the left. The lyrics are now part of Google Play (as you can see here for the Foo Fighters song) and are in a large database that's totally licensed from the publishers. No, you don't need to be a Google Play subscriber to access them.
Many of the current lyric sites are crowd sourced, so you can never be sure if the lyrics are correct or not. With Google's licenses in place, this is no longer the case, plus the lyrics are now easily accessible via the link in the search results.
Why did Google do this, you might ask? For Google, the search experience itself is paramount. You can see this in its rankings, where a page with a good user experience consistently ranks higher one where info is difficult to find. It seems that Google is using the same criteria on itself as well.