Meghan Markle and Prince Harry have signed a multi-year deal with Netflix

Meghan Markle and Prince Harry have signed a contract with streaming giant Netflix, where they stand to net a staggering figure.

Meghan Markle and Prince Harry have signed a monster deal with Netflix where they stand to make up to $130 million.

The Duke and Duchess of Sussex, who moved to California from the UK after stepping back as senior royals in March, have penned a multi-year contract with the streaming giant where they will make documentaries, feature films, scripted television shows and children’s series.

They are reportedly already making their first project, an animated series targeted at women, according to the New York Times.

Meghan and Harry released a statement about their deal, saying their aim was to give a voice to diverse communities.

“Our lives, both independent of each other and as a couple, have allowed us to understand the power of the human spirit: of courage, resilience, and the need for connection,” the pair said in the joint statement.

“Through our work with diverse communities and their environments, to shining a light on people and causes around the world, our focus will be on creating content that informs but also gives hope.

“As new parents, making inspirational family programming is also important to us.”

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Meghan Markle and Prince Harry have joined the Netflix team. Picture: Chris Jackson/Getty Images

Co-CEO and chief content officer for Netflix, Ted Sarandos said in the statement that Meghan and Harry had “inspired millions of people all around the world with their authenticity, optimism and leadership”.

The exact value of the deal has not been revealed however PR expert Jonathan Shalit told The Sun the royal couple could net anywhere between $70 million and $130 million. Other websites say bonuses could see them pocket up to $300 million.

“It is a staggering deal,” Mr Shalit told the publication.

“Never before has a Hollywood studio got hold of British royal family. This is historic.

“Meghan and Harry will hire shadow producers to do the work but their names alone attached to Netflix are gold dust.”

Meghan and Harry said as parents to one-year-old Archie, they would also like to focus on making children’s programs.

It comes after reports they had started their own unnamed production company and were in talks with various companies, including NBCUniversal and Disney.

Meghan’s first job since her return to Hollywood, where she was formerly an actress on the series Suits, was as a narrator for Elephant, a Disney+ docuseries that premiered in April.

The film benefits Elephants Without Borders, an organisation that protects elephants living in Botswana.

That gig came after Meghan and Harry were spotted chatting with Disney chairman Bob Iger at the London premiere of The Lion King last summer.

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Prince Harry chats with Disney CEO Robert Iger as Meghan hugs Beyonce Knowles at The Lion King premiere. Picture: Niklas Halle'n-WPA Pool/Getty Images

In 2019, Harry announced that he was teaming up with Oprah Winfrey for an Apple TV+ docuseries focusing on mental health.

Most recently, he made an appearance in a trailer for Netflix’s documentary, Rising Phoenix, about the Paralympic Games.