That's because this model will be the first Apple TV to run software that's mostly powered by iOS - the operating system on iPhones and iPads - rather than Apple's custom TV interface, according to 9to5Mac's Mark Gurman.
The report says that the new Apple TV will run on a version of iOS 9 that's optimized for TV.
This is why Apple didn't release its new streaming console in June like many had expected - it was worried about using up too many iOS 9 engineering resources, Gurman says.
The upcoming model is codenamed J34 and is expected to launch alongside Apple's next iPhone, which is rumored to come at an event next month.
In addition to running software that's largely based on that of Apple's iPhone and iPad, the company is also reportedly launching a dedicated App Store for the Apple TV. This means developers will be able to build their own apps for the Apple TV just like they do for Apple's other products.
For months, reports have indicated that the next Apple TV will support Siri and will come with a revamped remote control that supports voice input. It's also expected to come with a slimmer and wider design, more storage space, and a faster processor.
We'll know more when Apple holds its next event.