Apple could pull a Netflix, start creating original TV shows - CNET

In Amazon's case, original shows are woven into its larger Prime subscription service. If Apple were to get into the game, its own exclusive content could be a powerful draw toward its iTunes service and a jolt for sales of iPhones, iPads and Apple TVs.

Eddy Cue, Apple's chief entertainment architect, and Robert Kondrk, VP of iTunes content, have reportedly been chatting with Hollywood executives about the proposed initiative. The talks started late last year, according to The Street's sources, but no agreements have yet been signed.

Apple has been trying to gain more traction in the online video arena. Last October, the company introduced a new version of its Apple TV set-top box, which offers apps for streaming-video services, games and other content. The company has also been trying to develop a dedicated TV service for the past few years but has run into challenges trying to strike deals with content providers.

iTunes could provide the right avenue. Apple device owners use iTunes to purchase music, videos, apps, books and other content.

More than 1 billion iOS devices are in the hands of customers, Apple said in January of 2015. That opens up a huge potential audience for exclusive iTunes content, especially among people who have cut the cord on traditional TV. Revenue from iTunes, software and services continues to grow, rising to more than $6 billion last quarter, up from $4.8 billion in the same quarter a year ago, according to statistic site Statista.