It looks like Youtube is officially out of the scripted business. But if you're a fan of 80s classic 'The Karate Kid' - as well as a Netflix subscriber - you're in luck!

Netflix has acquired 'Cobra Kai', a spin-off from 'The Karate Kid' film series. The 1984 original was added to Netflix this month.

The show stars Ralph Macchio and William Zabka as they reprise their roles of Daniel LaRusso and Johnny Lawrence, respectively.

In 'Cobra Kai', they resume their martial-arts rivalry, decades after their fight at the All Valley Karate Tournament.

The series is one of many that have been saved by Netflix, which also acquired 'Lucifer', 'Longmire', 'Designated Survivor' and 'The Killing', among other shows.

The first two seasons of the action dramedy aired on Youtube to great success.

However the video platform has opted to change its business model to focus on ads rather than subscriptions.

Youtube had two other scripted originals which changed homes of late - 'Step Up' went to Starz while 'On Becoming a God in Central Florida' headed to Showtime.

The first two seasons of 'Cobra Kai' will premiere on Netflix later this year. There's also a third season which will debut on the streamer on a date to be confirmed.