The film centers around Brooklyn artist Nola Darling and her three lovers, a culivated male model, an investment banker and sneaker seller Mars Blackmon, portrayed by Lee himself. "We are hyped that Netflix is onboard with this vision ... we are getting an opportunity to revisit these memorable characters who will still be relevant and avant garde three decades later," says Lee.

The series will be a "contemporary update" of the original, according to Netflix. The idea of doing a series based on the film actually came from partner Tonya Lewis Lee, Spike Lee says, and was originally developed for Showtime. He recently released a film in collaboration with Amazon, Chiraq.