Quibi spending more than a billion wading into streaming wars. Luring subscribers will be key.

These days, we’ve all got a Las Vegas buffet of subscription streaming services to pick from. One new one called Quibi — short for quick bites — will launch in April and is only for your phone. Quibi was founded by former Disney executive and producer Jeffrey Katzenberg, and Meg Whitman is CEO. They gave a big presentation about the service last week at CES in Las Vegas. They’ve raised more than $1 billion and signed up a lot of big-name talent to create all new shows and movies. But no video will be longer than 10 minutes at a time.