Netflix gets DreamWorks Dragons, Hulu may revive Community

Good news for kids and kids at heart: DreamWorks is producing two additional seasons of its Dragons show, which is a prequel to the studio’s How to Train Your Dragon movie, exclusively for Netflix. (S NFLX) And Netflix competitor Hulu is in discussions to revive Community after it got cancelled by NBC. (S CMCSK)

Dragons is just one of a number of shows that DreamWorks Animation is producing for Netflix: The studio also premiered its show Turbo Fast on Netflix in December,  and is commissioned to produce three additional shows, including a remake of the faith-based Veggie Tales franchise and a show based on the movie Puss in Boots, all of which are scheduled to come to Netflix in late 2014.

Dragons is a bit of a different beast because two seasons of the show already aired on Cartoon Network. Netflix was able to win key voice talent that also participated in the Cartoon Network version, including Jay Baruchel and America Ferrera, according to a Wall Street Journal report.

The move from Cartoon Network to Netflix makes Dragons the latest show to continue its life on an online service — but it likely won’t be the last: Community, the cult comedy that got cancelled by NBC earlier this month, may get another chance on Hulu, according to a Deadline Hollywood report that has Hulu talking to Sony (S SNE) Pictures about a revival.

Community could be a great fit for Hulu because it has a die-hard audience of fans that may be too small to make it a network success, but big enough to turn it into a hit for the streaming service. Hulu has been investing into originals for some time, but it has yet to find a success story similar to any of Netflix’s first originals. Community could be just that, and do what Arrested Development did for Netflix.