It sells music, films and television shows on the iTunes Store, but not its own. However, the company did make a move into production with Beats 1, the international radio station included in Apple Music.
Netflix and Amazon's Prime TV have invested heavily in original content, producing critically acclaimed titles such as House of Cards and Transparent, although the Clarkson investment represents another level of commitment.
Apple is widely expected to unveil a new model of its internet-connected set top box Apple TV next week, alongside new iPhone and iPad models.
The company has not refreshed the Apple TV for two and a half years, and the device has been described as a "hobby" by chief executive Tim Cook, but it is believed to be considering a further push for control of the living room.
In April, HBO's on-demand service went live exclusively on Apple devices, and the company is believed to have been locked in discussions with networks for some time about a live television service.
Cook reportedly hoped to announce the service next week before negotiations stalled.
Although some sources quoted by Variety suggested Apple's plans were at an early stage, a bid for Clarkson would imply they are serious.
Jeff Bezos, Amazon's founder and chief executive, told the Telegraph last month that its motoring show starring Clarkson, Hammond and May will be "very, very expensive".
"They're worth a lot and they know it," he said.
