Harry and Meghan sign production deal with Netflix

Prince Harry and Meghan Markle are teaming up with Netflix.

The Duke and Duchess of Sussex have signed a multiyear production deal with the streaming company, The New York Times reports. They will reportedly produce documentaries, feature films, scripted shows, and children's programming for Netflix under a new production company of theirs.

"Our focus will be on creating content that informs but also gives hope," they said. "As new parents, making inspirational family programming is also important to us."

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Netflix Chief Content Officer Ted Sarandos in a statement said, "We're incredibly proud they have chosen Netflix as their creative home and are excited about telling stories with them that can help build resilience and increase understanding for audiences everywhere."

This comes after Harry and Meghan announced earlier this year they would be stepping back as senior members of the British royal family. It's also the latest high-profile production deal announced by Netflix, which previously signed one with former President Barack Obama and former first lady Michelle Obama. A documentary from the Obamas' production company won an Oscar earlier this year.