“Children’s entertainment giant Nickelodeon intends to follow the example of HBO and unveil a direct-to-consumer subscription service in February, the chief executive of Nickelodeon’s parent, Viacom said during a call with investors Thursday,” reports our good friend Brian Steinberg, Variety’s senior TV editor.

We’ll get more details after the Nickelodeon folks meet with their advertisers next month during the kids upfront, the story notes.

No word on pricing yet, but, as a comparison, “Sesame Street Go” offers games and library video product online for $3.99 a month or $29.99 a year (which brings the price down to about $2.50 per month).

Viacom CEO Philippe Dauman had this to say about Nickelodeon’s upcoming over-the-top service, according to Reuters:

“We believe this innovative service, which will have a distinct brand and will target the fast-growing mobile market, will be very attractive for parents and children.”

The announcement follows similar moves into over-the-top streaming last fall by CBS and Time Warner-owned HBO.

“These offerings underscore a shifting landscape in the television ecosystem as more people ditch pricey cable subscriptions in favor of video streaming products offered by Netflix, Amazon and Hulu,” Reuters notes.

The announcement was made during Viacom’s quarterly earnings call, in which Viacom reported lower-than-expected revenues.

Citing soft U.S. ad spending and ratings drops for MTV and VH1, the company said ad revenue dipped 6% in the quarter.