...Nickelodeon got the name "Nickelodeon"?

I don't exactly know how Nickelodeon got it's name. But I have the definition of it from the dictionary if that helps? Maybe it had to do something with that. It used to be called Pinwheel before they named it Nickelodeon.

nick•el•ode•on \'ni-ke-"lo-de-en\ n 1 : an early movie theater to which admission cost five cents 2 : jukebox

(c)2000 Zane Publishing, Inc. and Merriam-Webster, Incorporated. All rights reserved.

Thanks. Anyone know for sure? Or can confirm what Kimmy Gibbler said?