Apple is already a force in apps and music. However, they're still a nobody in the world of video. It seems that Apple wishes to change this and to change it pretty soon.
The rumors coming from Hollywood are saying that Apple is prepared to spend up to $1 billion of their own money to buy and create original video content.
Apple's move into the original content video space is mostly a reaction to Netflix's success with original content. Companies like Disney and others are already looking at creating their own streaming services, which will make it increasingly more difficult to fill a large library like Apple is used to having.