This format is available in so many places such as WAP phones, where you can request, say a 2-3 minute match report after a football match.

I have also heard of this being adopted on the internet with the addition of visual media. I would imagine you would need a high level of bandwidth to take on such a project yourself if you chose to update regularly.

Although, I couldn't see many people interested in this outside of professionals seeking to get into Radio. Who knows?