I'm currently in the midst of pitching a series of short form scripted TV series to a digital company -- a place that will certainly carry its own unique set of pros and cons. But the most general of their parameters are that the episodes are 3-5 minutes maximum.
While I'm still wrapping my head around this, I can't help but compare this to the flash fiction I wrote in college. What sort of story are you allowed to tell in such a compressed window? In FF, the results for me were somewhere between cinematic fiction and poetry -- usually lyrical and visual and there was a single point to be made about the character by the end of the 1-3 pages.
With this, it'll have to be different of course. But hopefully there's the same principle to be applied... don't try to say too much. Say exactly what you have to in the shortest time possible, and say it in the most exciting way. We'll see...