Former President Barack Obama and Michelle Obama sign multiyear deal with Netflix

Former President Barack Obama and Michelle Obama have inked a multiyear deal with Netflix, the streaming service announced Monday.

According to a tweet from Netflix, the Obamas will produce films and series for Netflix, which could include scripted series, unscripted series, docu-series, documentaries and features.

Netflix did not elaborate on the terms of the agreement.

"One of the simple joys of our time in public service was getting to meet so many fascinating people from all walks of life, and to help them share their experiences with a wider audience," former President Obama said in a statement obtained by The Chicago Tribune. "That's why Michelle and I are so excited to partner with Netflix -- we hope to cultivate and curate the talented, inspiring, creative voices who are able to promote greater empathy and understanding between peoples, and help them share their stories with the entire world."

Added his wife, Michelle Obama: "Barack and I have always believed in the power of storytelling to inspire us, to make us think differently about the world around us, and to help us open our minds and hearts to others," said Michelle Obama. "Netflix's unparalleled service is a natural fit for the kinds of stories we want to share, and we look forward to starting this exciting new partnership."

This is not the first deal the Obamas have signed since they left the White House in early 2017. That February, Penguin Random House announced that the company would publish books by both Barack and Michelle Obama. Though Penguin Random House did not provide details of their contract with the Obamas, it has been reported that the rights were reportedly purchased for $60 million.