Netflix joins forces with Nickelodeon to take on Disney+

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After Disney launched its streaming service this week, Netflix announced a multiyear partnership with Nickelodeon. 

USA Today reports the partnership will produce original animated films and television series based on existing Nickelodeon characters and all-new ideas.

“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,” Netflix said in a statement.

The partnership has already produced specials like "Rocko's Modern Life: Static Cling" and "Invader Zim: Enter the Florpus." Up next are specials based on "The Loud House" and "Rise of the Teenage Mutant Ninja Turtles," Netflix said. 

The announcement came the day after Disney+ launched, garnering 10 million subscribers in its first day. The service costs $7 a month or $70 a year after a 7-day free trial. Customers of some Verizon wireless and home-internet plans were offered a year free.

Netflix has garnered 158 million subscribers since launching its streaming platform in 2007.