Though financial details were not disclosed, Netflix said the agreement includes more than 300 hours of new TV episodes in a multi-year deal. Analysts estimated the contract could be worth several hundred million dollars over time.
The transaction is a major coup for both the video streaming company and the movie studio that produces the new content.
It helps Netflix compete with pay TV channels such as HBO and Showtime, and it gives DreamWorks a potentially lucrative outlet for its shows as it tries to shed its reliance on two or three big-budget movies each year.
Mutually beneficial: The deal gives DreamWorks a potentially lucrative outlet for its shows as it tries to shed its reliance on two or three big-budget movies each year
Netflix is doubling down on original children's programming, hoping to strengthen its push to become a family entertainment brand.
The new content should ease some of the pain of losing a range of kids shows from Viacom Inc.'s Nickelodeon network, including future episodes of 'Dora the Explorer,' which Amazon.com Inc. snapped up for its streaming service in early June.
The deal suggests DreamWorks will significantly ramp up its production of TV shows.
Currently, it only produces 'Dragons: Riders of Berk' for Cartoon Network, which completed a run of 20 episodes at 23 minutes each - less than 8 hours of content in all - in March.
Miss: After 'Arrested Development' debuted last month, Netflix's shares dropped more than 6 per cent because critics had mixed reviews
The multi-year agreement tops the undisclosed amount Netflix spent on 'House of Cards,' the political drama starring Kevin Spacey that debuted to rave reviews on Netflix in February.
Netflix has been adding original programming to its roster of older movies and TV show reruns, and is set to launch the Jenji Kohan-created 'Orange Is the New Black' next month.
The company has said that for тегін lostfilm фильмдері the next several years, it will contain original content spending to within 10 per cent of its $2billion in annual content costs.
Netflix's increased focus on children's programming is seen as a departure from the tactics of traditional premium pay TV channels such as HBO, Starz and Showtime, whose original shows tend to be tailored to adults.
It also ramps up the competition for children viewers with Amazon, which said last month it will produce three new original kids shows for members of its Amazon Prime subscription plan.
Netflix has said it has 29.2 million streaming video subscribers in the U.S. and 7.1 million internationally as of the end of March. Those figures are up 5.8 million and 4.1 million respectively from a year ago.
In December, Netflix announced it will offer Disney movies, starting with films released in 2016. It declined to make a similar deal for the rights to Sony movies starting in 2016, which was kept by Starz.
[img][/img] New to Netflix: Dreamworks' The Croods (pictured) will be exclusively viewable on Netflix
Netflix has gradually been shifting where it spends money - preferring exclusive and original content over shows that appear elsewhere, as was the case with content from Starz and Viacom. It let both of those deals lapse.
The company studies the viewing habits of its subscribers to gather insights into whether the programming is likely to be a hit on its service, and how much to pay for it. But not all of its picks have been winners.
After 'Arrested Development' debuted last month, Netflix's shares dropped more than 6 per cent because critics had mixed reviews. Monday's gains more than made up the lost ground.
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