Netflix and Nickelodeon are joining forces! According to the New York Times, the entertainment giants have signed a multi-year deal.
The agreement will see Nickelodeon create original animated feature films and TV series.
The news comes one day after Disney launched their new streaming service Disney+.
Netflix vice president of original animation, Melissa Cobb said: “Nickelodeon has generated scores of characters that kids love, and we look forward to telling wholly original stories that re-imagine and expand on the worlds they inhabit.”
“We’re thrilled to continue collaborating with Brian Robbins, Ramsey Naito, and the creative team at Nickelodeon in new ways as we look to find fresh voices and bring bold stories to our global audience on Netflix.”
It's not clear what this means for Nick's older shows, which are currently available on the likes of Hulu and Amazon Prime.
However, it's also reported that a SpongeBob Squarepants spin-off is in the works.
It's understood the 'music-based project' will follow 'Squidward’s new venture.'