• Netflix will have exclusive worldwide premiere rights to the next three seasons of "Sesame Street," as well as 90 hours of past episodes.
• The long-standing children's program also signed a separate deal with PBS, securing the public broadcaster as the traditional TV home of new "Sesame Street" episodes.
• Warner Bros. Discovery opted not to renew its streaming agreement with "Sesame Street" on its platform HBO Max.

"Sesame Street" has a new streaming home.

will stream the next three seasons of "Sesame Street," as well as a library of past episodes, securing the future of the longtime children's program known for characters such as Elmo and Cookie Monster.

The deal with Netflix was Monday alongside another agreement with PBS, the longtime traditional TV home of "Sesame Street."

Netflix will have the exclusive global premiere streaming rights to new episodes of seasons 56 through 58, according to a Netflix spokesperson. New episodes will also be available on free, publicly funded PBS TV stations in the U.S., and on PBS Kids' digital platforms, including its YouTube channel.

Under the terms of the deal, Netflix will also gain rights to 90 hours of past episodes, and will be able to develop video games for both "Sesame Street" and its spinoff series "Sesame Street: Mecha Builders."

The deal comes after opted not to its five-year streaming agreement in December with "Sesame Street" on its platform Max — — prompting a search for the iconic kids show's next distribution partner. Under the previous deal, episodes debuted on PBS months after they were released on WBD's streaming service, which also has an extensive library of past seasons.

WBD has been on children's content as Netflix builds out its portfolio of the programming. Earlier this year, episodes of YouTube children's content creator Ms. Rachel were to Netflix.

Kid and family programming represents 15% of Netflix's total viewing, the company said in Monday's release.

WBD paid $30 million to $35 million per year for new episodes of "Sesame Street." Terms of the deal with Netflix were not disclosed.

Monday's announcement puts the future of "Sesame Street" on steadier ground after it has been in the middle of a financial crisis, while also facing pressure from the government. President Donald Trump signed an executive order earlier this month to , claiming the organizations are "biased and partisan."

"Public media is essential," said Sara DeWitt, PBS KIDS senior vice president and general manager. "And we know from years of research that providing new, high-quality content to children across the country for free helps prepare them for success in school and life."

"This unique public-private partnership ensures children in communities across the U.S. continue to have free access on PBS KIDS to the Sesame Street they love," said Sesame Workshop CEO Sherrie Westin in a press release.

The new season will be "reimagined" to include new segments and format changes, according to the release. The episodes will feature one 11-minute story, to "tell stories with even more character-driven humor and heart." 

Season 56 will be released in three batches starting later this year.