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Nickelodeon Studios has cut a deal with Netflix to produce two animated movies for the streaming giant based on Nickelodeon properties “The Loud House” and “Rise of the Teenage Mutant Ninja Turtles.”

The pact was unveiled Tuesday morning during Viacom’s fiscal first quarter earnings call. Viacom CEO Bob Bakish cited the deal as a sign of Viacom expanded beyond its own channels to deliver content, and he billed the movies on Netflix as strong promotion that should drive viewing of the existing “Loud House” and “TMNT” series airing on Viacom’s channels.

Nickelodeon Studios already produces the animated series “Pinky Malinky” for Netflix and it is at work on the live-action series “Avatar: The Last Airbender.”

The Netflix deal was a highlight in an otherwise tough quarter for Nickelodeon, which is a big driver of revenue for Viacom’s media networks division. Viacom executives projected Nickelodeon would deliver modest growth in the current quarter.

“We do see the light at the end of the tunnel starting to appear,” Bakish said.