Netflix said in a statement that the agreement, "which marks the largest deal for original first-run content in Netflix history, is also the first time DreamWorks Animation's beloved characters will be introduced into the television market as a branded collection of shows."
The deal will bring more than 300 hours of original programming to Netflix, with shows that are inspired by new and existing DreamWorks characters from its hit franchises like Shrek and Kung Fu Panda and upcoming feature films. Netflix said that some shows may also include characters from the Classic Media library, which Dreamworks bought last year and which includes such characters as Casper the Friendly Ghost and Where's Waldo.
Netflix Chief Content Officer Ted Sarandos said in a statement, "This deal represents a major expansion of what's already a phenomenal relationship, allowing us to bring beloved DreamWorks characters to the 40 countries where Netflix operates and setting the stage for us to innovate together as we expand into new markets."
DreamWorks' Animation CEO Jeffrey Katzenberg was quoted as saying, "This is an unprecedented commitment to original content in the Internet television space."
Programming from the Netflix and DreamWorks deal is expected to arrive in 2014 and will be available in all of the areas Netflix operates. In addition to the deal, Netflix is already scheduled to release an original DreamWorks animated series in December based on the film Turbo, which hits theaters next month.
-- Material from The Associated Press was used in this report.
Fool contributor Chris Neiger has no position in any stocks mentioned. The Motley Fool recommends DreamWorks Animation and Netflix. The Motley Fool owns shares of Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.