Sasha Rionda talks with Jeffrey Katzenberg, the founder of Dreamworks, about his latest creation — Quibi.

Quibi is a subscription-based streaming platform designed to deliver short-form scripted and unscripted content to your cell phone.

The name is a mash-up of the words “quick” and “bites,” a nod to the fact that episodes of Quibi shows will run roughly seven to ten minutes in length. Celebrity segments from Jennifer Lopez, Kevin Hart, Chrissy Teigen, and Idris Elba will be starring alongside movies from Steven Spielberg and Guillermo del Toro, while NBC and BBC have already created news features to give up to date news information and stories.