Since 2012, the amount of time we spend watching video on our phones has exploded from a mere six minutes per day to close to 70 minutes, according to market research firm eMarketer. The health effects of such behavior notwithstanding, that time means a lot of things: a revolution in media consumption habits, a new distribution puzzle for content companies to crack, the rise of Gen Z, and, of course, an opportunity for one of the most successful entrepreneurs in the recent history of the entertainment industry. It may have taken a bit of time, but people are once again listening to what Jeffrey Katzenberg has to say.

The 68-year-old executive, who reinvigorated Disney in the late 80s, co-founded DreamWorks Animation in the 90s, and then sold it to NBCUniversal in 2016 for $3.8 billion, has foregone a quiet retirement to partner with former eBay CEO Meg Whitman to form Quibi (short for “quick bites”), a platform set to launch next April that’s dedicated to bringing premium, episodic content to pocket-size screens. Just don’t call it TV.

“I’m going to continue to believe, and argue, and preach that Quibi is not a substitute or a competitor for television,” Katzenberg told me when we spoke this week. “Our [service] is exclusively about what you do from 7 a.m. to 7 p.m. on your phone. And what you’re doing today, if you’re in our core demographic of 25- to 35-year-olds, is you’re actually watching 60-70 min of YouTube, Facebook, Instagram, and Snapchat. That growth is now a well-established consumer habit that Quibi is sailing into.”

The company has been in the works since 2018, and Whitman and Katzenberg have slowly been building buzz around it. (They announced the name at Vanity Fair’s New Establishment Summit last fall.) But this week saw a ramp-up in their press offensive, with more details trickling out. The service will cost users $4.99 a month with advertising and $7.99 without, and will feature about 7,000 pieces of content at launch—including Quick Bites, which are unserialized programming, such as the new eight-episode stunt-driving series starring British heartthrob Idris Elba and rally car driver Ken Block; Daily Essentials, a three times a day, six-and-a-half minute news program curated for your personal tastes; and their pièces de resistance: “Lighthouses,” serialized programming from filmmakers as disparate as Steven Soderbergh and Paul Feig, that will likely range in length between two to four hours and are divvied up into 7- to 10-minute chunks.

The young company will need all the talent it can sign. The coming year will see an explosion of direct-to-consumer platforms launching, from Apple’s TV initiative sometime this fall to Disney+ in November to WarnerMedia’s service in early 2020. Those are in addition to already established giants in the field: Netflix, Amazon Prime, and Hulu. While Quibi will also be asking consumers to shell out cash for its content, Katzenberg is insistent he’s not in the business of competing with those out to disrupt the television industry. To highlight this point he says that only 10 percent of Netflix, Amazon, and Hulu subscribers watch their content on mobile phones, whereas Quibi content will only be available on mobile phones.

“We think people will come for the Lighthouses, will be delighted by the Quick Bites, and then they stay and form a daily consumption habit around our Daily Essentials,” Whitman told me this week in a separate call.

The company has raised $1 billion in funding from investors such as Disney and Viacom, and has lured executives such as CAA’s Jim Toth and Warner Bros.’ Diane Nelson to its executive ranks. On Friday Quibi announced its board of directors now includes Mellody Hobson, president of Ariel Investments; Ann Daly, co-founder at WndrCo; Harry “Skip” Brittenham, founding partner of Ziffren Brittenham LLP; and Greg Penner, founder of Madrone Capital Partners. (Roger Lynch, CEO of Vanity Fair’s parent company, Condé Nast, is also a member of the board.)