Netflix is the new home for the beloved children's TV show, the streaming platform announced Monday along with a special video of Cookie Monster eating the Netflix logo.

Starting later this year, new episodes will run on Netflix, PBS and the PBS Kids app on the same day.

Sesame Workshop laid off about 20 percent of its staff this year after several grants dried up, and, more significantly, it confronted a significant loss in revenue with the expiration of its current...