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In a sign of changing times, animated programming produced for both Netflix and YouTube has begun to earn a significant number of Emmy Award nominations, competing alongside traditional broadcast and cable series.

In the continuing evolution of the on-demand streaming deal between Netflix and DreamWorks Animation, it was reported earlier this week that DreamWorks will produce more than 300 hours of original programming for the popular streaming media outlet.

The new content, which will be inspired by characters from existing DreamWorks franchises like Shrek, Kung Fu Panda and Madagascar, as well as properties from the recently acquired Classic Media library (Casper the Friendly Ghost, Lassie, Rocky and Bullwinkle, among others) will begin to air in 2014.

The agreement is part of DreamWorks’ initiative to expand their entertainment brand by courting television production away from mainstream TV outlets like Cartoon Network and Nick, where its TV shows currently air. This will begin with the December Netflix debut of a new original series, Turbo F.A.S.T., based on the upcoming feature film Turbo, which will hit theaters on July 17. It will also offer Netflix exclusive streaming rights to a selection of DreamWorks animated films, including The Croods and their movie version of Mr. Peabody and Sherman, coming to theaters in March 2014.

For Netflix, the contract, which is the most significant first-run content deal in its history, is part of their ongoing efforts to beef up their selection of children’s programming, which is very popular among parents as it offers a commercial-free alternative for younger, more impressionable viewers. The streaming site did not renew a deal with Viacom for reruns of Nickelodeon cartoons, and will rely heavily on DreamWorks for kids’ content.

The world of TV animation is changing drastically, mainly by the fact that new animated shows aren’t even appearing on TV. Netflix has announced a deal with DreamWorks Animation in which they will produce an original animated series based on the upcoming feature Turbo and stream the show on-demand.

The DreamWorks/Netflix deal doesn’t appear to be a one-off experiment The NY Times reports that Amazon’s competing Prime Instant Video is developing five children’s shows of its own.

DreamWorks head Jeffrey Katzenberg, whose company still produces TV shows like Kung Fu Panda: Legends of Awesomeness and How to Train Your Dragon for traditional cable outlets, was careful to couch the announcement in a way that didn’t outright state the demise of TV, by claiming that the deal is “part of the television revolution.”

In reality, though, the Netflix deal is a paradigm shift that upends the entire television model. When Netflix debuted its live-action series House of Cards earlier this month, they offered all of the first season’s thirteen-episdes at once. There is a chance that something similar will happen with the Turbo series.

A good analysis of what Netflix is doing can be found in this New Yorker piece, “Why Netflix’s The House of Cards Could Signal The Decline of Cable Television.

And more about the new Turbo series from the official release:

LOS ANGELES — Netflix and DreamWorks Animation will create the first ever Netflix Original Series for kids. Based on the highly-anticipated DreamWorks Animation movie Turbo, premiering in theaters this summer, the Netflix series Turbo: F.A.S.T. (Fast Action Stunt Team) debuts exclusively this December in the United States and across the globe in the 40 countries where Netflix offers its service.

“Families love Netflix, so creating an original series for kids was a natural for us. And we’re doing it in a big way by adapting Turbo, this year’s DreamWorks Animation summer tentpole movie,” said Ted Sarandos, Chief Content Officer of Netflix. “DreamWorks Animation has a long track record of creating incredibly successful characters and stories that delight people of all ages. We’re thrilled to add Turbo the series as well as all new DreamWorks Animation films, starting with their 2013 slate, to Netflix.”

“Netflix boasts one of the largest and fastest-growing audiences in kids television. They pioneered a new model for TV dramas with House of Cards, and now together, we’re doing the same thing with kids’ programming,” said DreamWorks Animation’s Chief Executive Officer, Jeffrey Katzenberg. “DreamWorks is thrilled to be part of the television revolution.”

Turbo’s pursuit of racing greatness continues in Turbo: F.A.S.T.: an episodic animated television series that picks up where the feature film leaves off. It showcases the world-traveling exploits of our snail hero and his tricked-out racing crew as they master outrageous new stunts and challenge any villain unlucky enough to cross their path.

In addition to the original TV series Turbo: F.A.S.T., new DreamWorks Animation feature titles will be made available for Netflix members in the U.S. to watch beginning with the studio’s 2013 film line-up