Prince Harry and Meghan have signed a multi-year deal to make TV series, films and children’s shows for Netflix, as part of their new careers away from the frontline of the royal family.

The Duke and Duchess of Sussex, who recently bought a home in Montecito, near Santa Barbara in California, join other high-profile figures including the former US president Barack Obama and his wife, Michelle, in signing a production deal with the streaming firm.

The Sussexes, who have had to become self-sufficient after announcing in January that they intended to “step back” as senior members the royal family, have set up a production company to develop projects for Netflix.

“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 couple said in a 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, as is powerful storytelling through a truthful and relatable lens.”

The Sussexes have reportedly held meetings with a number of Hollywood studios and Netflix’s streaming rivals since moving to California this year. Meghan, best known before meeting Harry for her role in the legal drama series Suits, made her return to showbusiness in April with a narration role in Disney’s nature documentary Elephant.

The couple are unlikely to star in productions – the Duchess of Sussex has said she does not intend to return to acting – but they may appear on screen in documentary projects. Harry recently featured in Netflix’s documentary Rising Phoenix, about the Paralympic Games, and joined Oprah Winfrey to produce a docuseries on mental health for Apple’s streaming service, Apple TV+.

“Harry and Meghan have inspired millions of people all around the world with their authenticity, optimism and leadership,” said Ted Sarandos, a co-chief executive and the chief content officer at Netflix. “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.”

The value of the deal was not disclosed but with two such high-profile names attached to productions, Netflix, which will spend more than $17bn this year making and buying shows and films, will be considered well worth backing.

“With the global streaming wars at fever pitch, the competition for the most high-profile talent has never been hotter,” said Richard Broughton, an analyst at the media consultancy Ampere. “Harry and Meghan bring a UK royalty brand to Netflix, regardless of whether they are the stars of production, which will resonate internationally and particularly with audiences in the US and UK, two of its most important markets.”

Barack and Michelle Obama signed a deal with Netflix in 2018 and went on to acquire the Sundance hit American Factory, which won the Oscar for best documentary. Becoming, a documentary focused on Michelle Obama, was released this year.

Harry and Meghan have endured a tumultuous time since announcing in January that they would step down as senior royals and leave the UK. After initially looking to run their independent operations under the brand SussexRoyal, the couple agreed a deal with the royal family under which they had to ditch the name, stop using the HRH titles and give up public funding.

In April they announced they were setting up a new charitable organisation called Archewell, a reference to the Greek word Arche – meaning action – as well as to their son, Archie.

They are likely to relish being in control of their media output at Netflix, given their often hostile relationship with the press, particularly in the UK. In April the couple sent a letter to the editors of the major British tabloids – the Sun, Daily Mail, Mirror and Express – saying there would be a policy of “zero engagement” except, when necessary, through the couple’s lawyers.

They are engaged in legal action against the publisher of the Mail on Sunday and Mail Online over the publication of extracts from a private handwritten letter Meghan sent to her estranged father, Thomas Markle.

The case has shed light on the couple’s deteriorating relationship with the royal family as well as the media. Legal filings have revealed that the duchess felt “unprotected” by the royal family from claims made by the UK tabloid press against her while she was pregnant.

There were more revelations to come in July when a book was published about their exit from the royal family. Finding Freedom included claims that Harry had felt unprotected by his family and that relations between the Sussexes and Prince William and Kate had deteriorated to a level where they were barely on speaking terms.

The Sussexes have distanced themselves from the book, with a spokesman saying they were not interviewed and did not contribute to it.

• This article was amended on 3 September 2020. An earlier version said the Duke and Duchess of Sussex had moved to “the Santa Barbara area of Los Angeles”. This has now been corrected.