Sony will be the first major Hollywood studio to produce original content for the streaming provider.
"We're willing to do different things and bet on the future," said Steve Mosko, president of Sony Pictures Television. "We're pumped up—it's a challenge to show a major studio can be in business with one of these services."
The creators of the new series said that it explores "the complex bonds between parents and children, brothers and sisters, and the rivalries, jealousies, and betrayals at the core of every family," according to the report.
Netflix recently stepped into the production realm with its own original programming, including "House of Cards" and "Orange Is the New Black."
Sources close to the matter told WSJ that several large studios, including Warner Bros. and Twentieth Century Fox Television, have also considered offering new content on Netflix.