Aside from launching new series, the two companies also made a deal when it comes to stream rights of DreamWorks Animation's film library and worldwide extended rights for current original series available on Netflix. Also part of the agreement is the production and development of new content based on existing DreamWorks Animation properties for Netflix.
This is not the first time Voltron got a reimagining or a remake. Voltron: The Third Dimension and Voltron Force are some examples of Voltron remakes in recent years. The original Voltron TV series is an adaptation of two anime shows. These shows are: Beast King GoLion and Armored Fleet Dairugger XV.