Prince Harry and Meghan Markle could soon launch their new production outfit for creating films, TV shows, and videos following their lucrative deal with the streaming platform, Netflix.

The Sussex pair reportedly filed the paperwork for Archewell Productions just before the holidays. Harry and Meghan want to have the sole rights to the content they will make as a movie, TV show, or video, including those that can be streamed on the mobile platform.

Having their own production outfit will also give Harry and Meghan more creative freedom. Sources close to the Sussexes said that they are quite serious with their "TV ambitions" even as some might scoff at their plans to make the next popular comedy series.

A report from The Sun claimed that Harry and Meghan plan to make the next Only Fools and Horses. This comedy was on the air on BBC from 1981 to 2003, but insiders said that it's hard to imagine the Sussex pair focusing on a creative project like this as they still need to build their other brands under the Archewell umbrella and they will also launch their foundation.

In September 2020, the Duke and Duchess of Sussex announced that they'd signed a multi-million deal with Netflix to produce movies and series for the next five years. Their first program is expected to launch in 2021, and the CEO of the streaming platform, Reed Hastings, said that he is confident it will be the most watched content on Netflix for the year.

Though Meghan has on-camera experience as a TV actress for over a decade, she isn't expected to be in front of the cameras for the Netflix content. Sources said that the Sussexes want to work behind the cameras and carefully choose if they have to appear on the screen.

But rumors are also rife that Harry and Meghan's unofficial biography, Finding Freedom, could become a TV drama. However, it's still unclear if the Duke and Duchess of Sussex will be involved as producers as the couple has said, time and again, that they did not contribute to the book nor sat down with the authors for an actual interview.

According to Daily Express, the book's co-author, Omid Scobie, is said to be in discussions with Hollywood executivesabout potentially putting the story of the Sussexes on the screen. However, Scobie has said once before that he's not a fan of adapting biographies unless much time has passed.

The author is also a contributor for Good Morning America and the royal editor of Harper's Bazaar. Scobie has a good relationship with the Sussexes as well