Prince Harry and Meghan Markle announced they have signed a deal with Netflix for an undisclosed sum

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Prince Harry and Meghan Markle have announced that they have signed an agreement with Netflix.

The Duke and Duchess of Sussex, who currently live in their $ 14 million mansion in Santa Barbara after officially stepping down from royal duties in March, are set to embark on their new career in Hollywood.

The couple have founded an yet to be named production company and signed a multi-year deal with Netflix, which will pay them to make documentaries, documentary series, feature films, scripted shows and children’s programming, according to the New York Times.

In a statement, they commented: “Our goal will be to create content that informs but also gives hope. As new parents, creating inspiring family programs is also important to us.

Prince Harry and Meghan Markle have announced that they have signed an agreement with Netflix. Pictured, in a video provided on Monday July 6, 2020 by the Queen’s Commonwealth Trust

The couple have founded an yet to be named production company and signed a multi-year deal with Netflix, which will pay them to make documentaries, documentary series, feature films, scripted shows and children's programming.

The couple have founded an yet to be named production company and signed a multi-year deal with Netflix, which will pay them to make documentaries, documentary series, feature films, scripted shows and children’s programming.

They added that “Netflix’s unprecedented reach will help us share impactful content that will unlock the action.”

Their content will be exclusive to Netflix, which has 193 million subscribers worldwide.

While Harry and Meghan may appear on camera in the documentary lineup, the former Suits actress has already made it clear that she has no plans to return to the theater.

Ted Sarandos, Director of Content and Co-CEO of Netflix, added, “We are incredibly proud to have chosen Netflix as our creative house and we are excited to tell stories with them that can help build resilience and increase public understanding around the world. “

Rumors that Harry and Meghan are looking to establish a foothold in Hollywood have multiplied since the couple announced their intention to step down as royals, seek financial independence and move to North America in January.

Meghan’s first job after Megxit in showbiz was as the narrator for the Disney Plus Elephants documentary series, which released in April.

The 39-year-old Los Angeles native landed the job after Harry bragged about his voice-over skills to Disney president Bob Iger at the London premiere of the live-action The Lion King l ‘last summer.

Prince Harry and Duchess of Sussex attend 'The Lion King' premiere in London in July 2019

Prince Harry and Duchess of Sussex attend ‘The Lion King’ premiere in London, July 2019

Rumors that Harry and Meghan are seeking a foothold in Hollywood have increased since the couple announced plans to step down as royals, seek financial independence and relocate to North America in January.  Pictured attending Commonwealth Day Service 2020 on March 9, 2020 in London

Rumors that Harry and Meghan are seeking a foothold in Hollywood have increased since the couple announced plans to step down as royals, seek financial independence and relocate to North America in January. Pictured attending Commonwealth Day Service 2020 on March 9, 2020 in London

His fees for the project went entirely to the Elephants Without Borders charity – an organization dedicated to wildlife conservation and helping to protect animals from poaching.

Harry followed in his footsteps by appearing in a new Netflix documentary about the Paralympic Games called Rising Phoenix, which aired on August 26.

Last year Harry announced he was teaming up with Oprah Winfrey on an Apple TV + documentary series on mental health.

It’s unclear if the couple showcased their secret project to Disney, Netflix, or Apple TV +.

Shortly after the Duke and Duchess announced their intention to step down from royal duties, a senior Netflix executive said the streaming giant would like to work with them.

Netflix content director Ted Sarandos told the Screen Actors Guild Awards in January that the streaming giant would like to work with Harry and Meghan, adding, “Who wouldn’t be interested? Yes of course.’

The decision to work with Netflix is ​​also a decision reminiscent of former President Barack Obama and his wife, lawyer Michelle.

In January, sources confirmed the couple discussed their plans with the Obamas and wanted to emulate how they managed to build a successful but dignified life after the White House.

Since leaving the White House, the Obamas have made a small fortune selling the rights to their autobiographies and starting their own production company, which struck a lucrative deal with Netflix.

A source said: “They have found huge business success without really seeming to get their hands dirty, to put it bluntly, and maintain their popularity.

“In fact, it’s fair to say that their star has exploded since leaving the White House, especially Michelle’s, and it’s something Meghan admires very, very much. “

After stepping down from senior royalty, Meghan and Harry signed in June with New York-based agency Harry Walker, which represents the Obamas and Clintons.

Meghan has made several appearances as a speaker at various online summits, but it is understood that she has not received payment for these engagements.

Meghan's first job after Megxit in showbiz was as the narrator for the Disney Plus Elephants documentary series, which released in April.  The 39-year-old pictured in a promotion for the film

Meghan’s first job after Megxit in showbiz was as the narrator for the Disney Plus Elephants documentary series, which released in April. The 39-year-old pictured in a promotion for the film

Meghan Markle recorded her narration for new Disney Elephant documentary (pictured) in the fall of last year

Meghan Markle recorded her narration for new Disney Elephant documentary (pictured) in the fall of last year

Experts estimate, however, that the Sussexes would make an impressive sum from speaking in public, with an agency estimating the couple could earn up to $ 500,000 each in a single appearance.

In February, a public relations expert told DailyMail.com that the couple may have won “up to $ 1 million” between them to speak at a star-studded JP Morgan summit in Miami, insisting the fact that the couple would be the “highest paid speakers that exist in the corporate market”.

“I wouldn’t be shocked if they made more than a million dollars,” Ronn Torossian, CEO of New York-based 5W Public Relations, said of their engagement with JP Morgan.

“During the year, their earning power could be unlimited.

Meanwhile, GDA Speakers, whose clients include Nicole Kidman and Diane Keaton, told TMZ that the Duke and Duchess would likely attract far higher fees than regular celebrities, even without their RHS titles.

The majority of high-profile celebrities earn between $ 200,000 and $ 300,000 for a speaking engagement, but the agency estimates Harry and Meghan could each earn nearly double that amount thanks to their impressive global reputations.

Finding Freedom co-author Omid Scobie also claimed the couple have big plans for the next few years and are basing their working model on the Obamas.

Harry followed in his footsteps by appearing in a new Netflix documentary about the Paralympic Games called Rising Phoenix.  He is pictured in a trailer for the film

Harry followed in his footsteps by appearing in a new Netflix documentary about the Paralympic Games called Rising Phoenix. He is pictured in a trailer for the film

He said their plans were “not too different” from what the former president created after leaving the White House and setting up production company Higher Ground.

He highlighted Obama’s multi-year production agreement with Netflix to produce films and documentaries covering topics such as race, class and civil rights.

Harry and Meghan’s public interests have largely focused on social issues, environmental concerns, and mental health – so it is possible that their project will focus on these areas.

While it’s unclear exactly how much the former president and the first lady leveraged their Netflix deal, those who signed similar deals are expected to make millions.

Shonda Rhimes, who created Grey’s Anatomy and Scandal, signed a five-year contract with Netflix in 2017, valued at $ 150 million.

The following year, American Horror Story creator Ryan Murphy reportedly made up to $ 300 million when he signed his own five-year contract with the streaming giant.

Reports of Harry and Meghan’s elusive project came days after it emerged the couple had secretly purchased a private family home in Santa Barbara, abandoning Tyler Perry’s 12-bedroom mansion in Beverly Hills for “privacy. considerable “.

On June 18, the couple bought the sprawling nine-bedroom, 16-bathroom mansion in upscale Montecito for $ 14.65 million.

Property listings indicate that the house took nearly five years to build and included a library, office, spa with a separate wet and dry sauna, gym with a stripper pole, a game room , an arcade, a theater, a wine cellar and a garage for five cars.

He also comes with a host of top-tier neighbors who could help them achieve their Hollywood aspirations, including Ellen DeGeneres and Oprah.

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