When it debuted in 1986, Pee-Wee’s Playhouse quickly became one of the most celebrated children’s shows of the decade, winning critical praise and 15 Emmys over the course of its five-season run. However, in recent years, the show has maintained a solid cult following, leading star Paul Reubens to resurrect his signature character for a revival of his original stage show in 2010.

In the years since, Reubens has consistently talked up a new Pee-Wee Herman movie, following in the footsteps of Tim Burton’s 1985 comedy Pee-Wee’s Big Adventure and its 1988 sequel. Yet, besides the fact that Judd Apatow was attached to produce, fans have had little idea as to what to expect when and if they’d ever be able to finally see the film. Until now.

According to The Wrap, Netflix is close to securing a distribution deal for the new Pee-Wee Herman film starring Reubens. Plot details are still a mystery, though the film will be based on a script by Reubens and comedian Paul Rust (who served as story editor for Arrested Development season 4, also a Netflix release incidentally). The film was previously set up at Universal and reportedly has an unnamed filmmaker attached to direct. Filming could start as early as February 2015.

Reubens recently teased that a “big announcement” was forthcoming, and it’s likely that this Netflix deal is precisely what he was referring to. After all, the company has emerged as a major venue for original content, as evidenced by the huge deal the company has with Marvel Studios. The Pee-Wee Herman announcement is also particularly well-timed, considering that Netflix only recently added the complete series of Pee-Wee’s Playhouse to its streaming options.

Furthermore, Netflix is a far more viable way to release the new Pee-Wee Herman film to maximum success. After all, despite his recent resurgence, the character is largely fueled by nostalgia and would prove a risky theatrical venture for a whole new generation that has more limited familiarity with Pee-Wee Herman and his hit show. Since the character is perhaps best known for his TV series anyway, it is only fitting that he returns to the small screen with his latest adventure.

Are you excited that the new Pee-Wee Herman film is inching closer to release, and is Netflix a good home for the project? Sound off with your thoughts in the comments section below.

The as-yet-untitled new Pee-Wee Herman film will begin filming in 2015. Stay tuned to Screen Rant for updates.