Yahoo is reportedly planning to produce its own online TV shows in a bid to rival Netflix and Amazon.

As Digital Spy reveals citing The Wall Street Journal, the web portal is allocating a budget of $700,000 to a few million dollars per episode for its content.

Yahoo is apparently looking to move away from short-form Web originals and wants to produce 10-episode, half-hour comedies.

Experienced writers and directors are being sought for the project, while CEO Marissa Mayer is hoping to show the first crop of content to advertisers on April 28.

It was recently claimed that Yahoo could also launch its own YouTube rival of professionally-made content by poaching video makers and owners with better offers.

These include greater advertising revenue and guaranteed advertising rates for their videos, as well as improved marketing solutions that comprise home page exposure for maximum traffic.