Netflix has just announced a coup: It has secured a deal with DreamWorks Pictures to stream its movies and television specials. The deal replaces a prior one with HBO; the companies noted that this is the first time a large Hollywood content supplier has opted for Web streaming over pay TV.

Netflix has been somewhat beleaguered in the past several weeks, after spinning off its DVD business from its streaming service, effectively raising rates for many of its customers, some of whom have ended their subscriptions. It is also facing increasing competition from services including Amazon Instant.

DreamWorks produces a multitude of popular movies and franchises aimed primarily at kids, including Shrek, Madagascar, and Kung Fu Panda as well as films for grownups, including House of Sand and Fog and American Beauty.

Netflix Secures Streaming Deal With DreamWorks [New York Times]