This isn't the first move Apple has made that shows it's serious about original programming.
Apple has yet to actually confirm whether it has a TV streaming service planned. Moreover, it is also not clear if the company will still make use of Apple Music subscriptions or launch a dedicated internet service.
Apple, Facebook and other digital and tech giants are increasingly keen to own content as part of wider strategies to control the entertainment supply chain.
So what do you think of Apple coming into original content business? It debuted reality shows Planet of the Apps and Carpool Karaoke earlier this year, but TechCrunch noted they were not well-received. The alleged $1 billion budget will be put toward acquiring and then producing these original shows. Those kinds of shows-scripted comedies and dramas-are expensive to produce, and we've seen Netflix's annual budget for original programming increase over the past few years to accommodate that. Forbes reported previous year that the sixth season of "Game of Thrones" costs $10 million per episode. But as we saw with Netflix and Amazon, all it will take for Apple to become a player in this space is one or two big hits.