Cel Phone Soap

I heard on the radio this morning, though I've been unable to verify it anywhere else, that one of the networks (either CBS or ABC) is in development on a soap opera they plan to broadcast via cel phone.

Your phone would have to be able to receive video for this. They're planning 2-3 minute episodes and are going to run it like an actual series.

At least that's what I heard. Though this is essentially what I've been talking about I see two problems with this.

One: Not very many people have video capable cel phones at the moment.
Two: 2-3 minutes isn't enough time. But I could be wrong. It's my impression that character development and drama might need a bit more time than two or three minutes per episode, but then again...