But despite the couple’s swift denial, a spokesperson for Netflix has confirmed Harry and Meghan are nonetheless developing several projects.
"The couple already has several projects in development, including an innovative nature docu-series and an animated series that celebrates inspiring women.
“But we are not disclosing any of the programming slate at this time," the spokesperson told the Press Association.
Harry and Meghan issued the response after The Sun reported that the couple were set to take part in a "tasteful" reality TV show with the streaming giant.
According to the British publication’s claims, a source alleged that the couple wanted to "give people a glimpse into their real lives" to show the "real" Meghan.
The insider also claimed that the purpose of the Sussexes' foray into reality TV was to "shine a light on people and causes around the world".
While it remains to be seen how the couple will earn their megabucks pay check, Netflix co-founder Reed Hastings recently told CNBC he's "so excited" about the deal.
“They’re smart. They were shopping around across all the major companies and I think we really put together the best complete package," Reed admitted.
“We are going to do a wide range of entertainment with them.
“I can’t tell you any more than that about it as this point but I think it will be some of the most exciting, the most viewed content next year,” he added.