According to their claims, the first step will be the launch next year of a digital news subscription service previously leaked in April.
This will then be combined with Apple Music and a Netflix style on-demand and original programming initiative predicted for launch next March.
RBC capital markets analyst Amit Daryanani claimed in a research report published this week that bundling Apple's services in this way would be good news for the company.
He predicted it could more than double Apple Music's subscriber numbers to more than 100 million in the next three years.
In a note to investors, he wrote: "We estimate Apple will spend around US$1billion+ in financial year 2018 on production/ content that will be released in 2019 and beyond.
"Assuming original TV content has the potential to accelerate Music paid subscriber growth to 100M+ users in the next three years, we think combination of Music/ original content could represent a US$10b to US$12b annual run-rate business.
"More importantly, this would increase the stickiness of the iOS ecosystem.
"We estimate Apple has around 40 to 42 million paid Apple Music subscribers, and AAPL is well positioned to increase the number of paid subscriber to 100million+ in next three years."
In March, news emerged that Apple was making a billion-dollar bet on its own on-demand television service that could launch as soon as 2019.
The company was said to have signed up 12 new shows to the project so far with big stars such as Reese Witherspoon, Jennifer Aniston and Kristen Wiig already on board.
The streaming platform, which will rival popular services Netflix and Amazon Prime Video, is backed by a budget that is set to top US$1b and is predicted to launch in March 2019, according to a new report.
Apple is constructing a 128,000-square-foot (12,000 sq m) headquarters for its new entertainment division, called Apple Worldwide Video, in Culver City, California.
The new team has a workforce of 40 employees, the New York Times reported.
In recent weeks, it also emerged that Apple has signed a multiyear deal with Oprah Winfrey to create programming as part of the iPhone maker's push into original entertainment.
Apple gave no details of the type of programming that Winfrey would create, the value of the deal or when it might be released. Winfrey had no immediate comment.
But according to The Hollywood Reporter, Apple pursued her for months and the pact includes everything from film, TV, apps, books and more.
The partnership with Winfrey, 64, regarded as one of the most influential people in the entertainment business, is the biggest original content deal struck by Apple so far.
Winfrey founded and heads the OWN channel as chair and CEO. She recently extended her contract with OWN through 2025.
In April, reports suggested the Cupertino-based company is also planning to launch an upgraded version of its News app that will include a premium service offering access to dozens of subscription magazines.
The firm acquired magazine app Texture in March, which gives subscribers unlimited access to more than 200 magazines for US$10 a month, including Forbes, Esquire, GC, Wired, People, The Atlantic, and National Geographic.
The firm has since cut roughly 20 Texture staffers and is working to integrate the app's technology and remaining employees with Apple News ahead of launching its own subscription service within the next year, according to Bloomberg.
While Apple previously offered magazines and newspapers in its Newsstand app, these were not lumped together under a single subscription.
Instead, users had to pay each individual fee as normal. And, the same goes for Apple News.
The report from Bloomberg suggests Apple is working to launch a subscription package that would include numerous publications, just like the Texture app did.
Each of the publishers would get a cut of the revenue.
Apple announced in mid-March that it was buying the digital magazine subscription service.
The iPhone maker did not disclose financial terms of the deal to buy Texture from its owners - publishers Conde Nast, Hearst, Meredith, Rogers Media and global investment firm KKR.
"We're excited Texture will join Apple, along with an impressive catalog of magazines from many of the world's leading publishers," Apple senior vice president of internet software and service Eddy Cue said at the time.
"We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users."
The Texture application launched in 2012, the product of a joint venture created two years earlier.
"We could not imagine a better home or future for the service," Texture chief executive John Loughlin said.
