Apple's original TV shows and movies could be free for all iPhone and iPad owners with the launch of its new video streaming service (AAPL)

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Apple has put more than $1 billion into producing original content, and has signed deals with big names like Oprah Winfrey, Steven Spielberg and Kristen Wiig.
As part of its larger digital TV strategy, the company has reportedly been developing its own video streaming service where customers can also access their other subscription services, too.
With the streaming service's launch, Apple's original content will be available for free to all iPhone and iPad owners, CNBC reports.

Apple is planning to make its original TV and movie content free to anyone with an iPhone or iPad, CNBC reports, as part of the company's foray into building its own digital video streaming service.

The company has put more than $1 billion into production of original programming, which includes 19 TV shows without an official release date, as well as two series that ran last year. The content will be available to watch on the Apple TV, as well as the pre-installed TV app on the iPhone and iPad, which is being redesigned as a one-stop-shop for all your various digital TV subscriptions, as Bloomberg reports.

The ultimate idea for Apple's TV app would be similar to that behind Amazon Prime Video, according to those reports. Through Prime Video — which can be watched via smartphone app, computer, and Amazon's Fire TV and TV stick — users can access content from third-party providers like Showtime, CBS All Access, and HBO, provided they pay for the the applicable subscription.

Currently, Apple's TV app only exists as a directory to browse through all the different digital entertainment options out there, and requires you to download the compatible app for what you chose to watch. As Bloomberg reports, the revamped app would take out a step in this process by looping your existing digital subscriptions through the app.

Reports also indicate that Apple may offer subscription services beyond digital TV streaming. CNN reported in June that Apple was also exploring subscription plans that include music and news content.

Apple's plans signify a full-court press into the digital entertainment industry, where its biggest competitors have already established themselves as players. Netflix and Amazon both offer online streaming services, and have produced original content that has gone on to become wildly popular.

Apple has shelled out big money for its programming to feature big names such as Jennifer Aniston, Steven Spielberg, Kristen Wiig, JJ Abrams, Chris Evans, and M. Night Shyamalan. Once launched, it'll come to the many millions of Apple devices out there in the world.

Apple did not immediately respond to a request for comment.

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