Streaming video service Netflix has signed a deal with Dreamworks Animation to create its first original programming for children with Turbo: F.A.S.T., a show based on one of Dreamworks’ upcoming movies.

Netflix has garnered lots of attention for its ambitious plans to become the next HBO. Its new series House of Cards from David Fincher and Kevin Spacey showed that an online streaming service can make a compelling drama that would be at home on a premium cable channel. Other shows being produced in part by Netflix include Eli Roth’s Hemlock Grove, Jenji Kohan’s Orange is the New Black, and new episodes of Arrested Development.

Turbo: F.A.S.T. is a spin-off from Dreamworks’ movie Turbo, which hits theaters on July 19. The TV show comes to Netflix in December in the U.S. and 40 other countries. The Turbo movie and show follows the exploits of a gardener who wants to win the Indy 500.

DreamWorks Animation CEO Jeffrey Katzenberg thinks the new show can help Netflix win in the children’s TV arena the same way House of Cards has helped establish Netflix as a place for premium adult programming.

“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,” Katzenberg said in a statement. “DreamWorks is thrilled to be part of the television revolution.”

On top of the deal to create the new TV show, Dreamworks Animation also signed an agreement to bring its 2013 movies to Netflix. So that means you’ll be able to watch both Turbo and Turbo: F.A.S.T. on Netflix in the future. We’re sure you’re terribly excited.

Turbo screenshot via Dreamworks Animation/YouTube

Not satisfied with its already extensive library of old TV shows via its Prime streaming video service, Amazon is now planning to develop its own lineup of original children’s shows and sitcoms, the company announced today.

Amazon is the latest company to embark on a mission for premium original TV content, which is quickly becoming a necessity for grabbing and holding on to a large subscriber base. For instance, streaming service competitor Hulu’s current lineup of original programing includes scripted comedy Battleground, Morgan Spurlock’s A Day in the Life reality series, and unscripted travel show Up to Speed from  director Richard Linklater as well as four other shows slated for early 2013. Netflix is also producing its own lineup of exclusive original shows, including Lillyhammer, Kevin Spacey’s House of Cards, Eli Roth’s Hemlock Grove, and the highly anticipated fourth season of cult-sitcom Arrested Development.

Needless to say, Amazon has its work cut out for itself.

However, Amazon has been preparing for an original programming push for a while through its content development division, Amazon Studios, which launched in November 2010. The division, which currently has 15 movie projects in development, is seeking proposals for new comedy and children’s programs. Amazon will choose one proposal per month for development, and those that get approved for a full series will snag a pretty decent deal that includes a $55,000 check, a cut of merchandising sales, royalties, and bonuses.

Unlike Amazon Studios’ movie developments, the TV shows will get distributed exclusively through its Prime streaming video service. And as AllThingsD’s Peter Kafka points out, the TV shows will feature production quality and story telling that’s on par with cable or satellite TV programming.

Amazon’s push for original TV programing isn’t entirely based on staying competitive with Hulu and Netflix. The company’s Prime Streaming service is actually just one of the perks offered to customers that sign up for Amazon’s $79 per year Prime Membership. The streaming video service, along with the forthcoming original programming, is part of the company’s strategy to boost Prime memberships, which ends up driving more business to its online retail store.

Adventure Time image courtesy of Cartoon Network