Netflix has struck a landmark deal with Dreamworks Animation that will see it stream more than 300 hours of exclusive original programming from the Shrek and Kung Fu Panda producer.

The deal will see Dreamworks produce a string of spin-offs from current and forthcoming films for the international VoD service and could see new series featuring characters from Shrek, Monsters vs Aliens, How To Train Your Dragon and Postman Pat.

The move will be a blow to rival international kids broadcasters including Nickelodeon, which has produced kids series based on Dreamworks series including Madagascar and Kung Fu Panda, but will now be locked out of ordering future series as a result of the exclusive agreement.

The Netflix deal will also include potential series from characters including Casper The Friendly Ghost, Where’s Waldo and Postman Pat, taken from the Classic Media library which was acquired by Dreamworks last year.

The first series to come out of the deal could be a TV version of The Croods, based on the Neanderthal family, which was hinted at by Dreamworks chief executive Jeffrey Katzenberg in May.

The move follows Netflix’s order of a TV series based on Turbo from Dreamworks in February.

Netflix chief content officer Ted Sarandos said: “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.”

The new shows will air across Netflix’s services in the US, Latin America, Canada, UK and Ireland, Scandinavia.