The couple, which wed in 2016, has formed Why Not You Productions, through which Ciara and Russell plan to create both scripted and unscripted projects for film, TV, and digital platforms, with a focus on "inspiring and aspiring narratives and human interest stories".
"While we work in different fields in our day-to-day, we are excited to come together to collaborate and create stories that we hope will touch people's lives," the stars share in a joint statement.
"We are both storytellers at heart and we want to be able to share stories that uplift people and inspire others to create positive change. That's ultimately what we want this company to represent."
The production firm isn't the first time Ciara has gone into business with the Seattle Seahawks quarterback - they also work together on the youth empowerment organisation, the Why Not You Foundation, which Wilson founded in 2014.
In addition to developing material for film and TV, the "Goodies" hitmaker recently launched her own entertainment company and record label, Beauty Marks Entertainment, with her first album in four years, also named "Beauty Marks", set to drop on May 10.
Meanwhile, Russell recently hit headlines as he became the highest-paid player in the NFL after signing a huge four-year $140 million (£107.4 million) contract extension. He also heads up a separate brand management and production firm, called West2East Empire.