The show, which has been a Broadway institution since 1988, will deliver its final performance on February 18, 2023, according to a spokeswoman.

The Phantom of the Opera, the longest-running show in the history of Broadway, is due to close after 35 years.

The musical, which has been an icon since 1988, will perform its final performance on February 18, 2023, according to a spokeswoman.

It is the largest victim of the post-pandemic decline in New York theatre attendance, occurring less than a month after its 35th anniversary.

With its expensive sets, costumes, and massive cast and orchestra, the musical is costly to maintain despite enduring economic downturns, war, and cultural shifts.

Since reopening following the epidemic, the show’s box office receipts have fluctuated, ranging from over $1m (£876,000) each week to roughly $850,000 (£745,600).

After it reached $867,997 (£760,365) in sales last week, producers may have noticed the writing on the wall.

The musical by Andrew Lloyd Webber tells the story of a disfigured composer who haunts the Paris Opera House and falls madly in love with Christine, an innocent young soprano.

It is based on the novel by Gaston Leroux and includes well-known musical numbers such as Masquerade, Angel of Music, All I Ask of You, and The Music of the Night.

Cameron Mackintosh, a producer, stated in a statement, “As a producer, you hope a show will continue forever. My production of Andrew’s Cats publicly proclaimed Now and Forever for decades.

“However, Phantom has topped the amazing Broadway run of that production. However, all performances eventually conclude.”

Since its debut in London in 1986, the show has been viewed by more than 145 million people in 183 cities and 70,000 performances in 17 languages.

It has performed more than 13,500 times for 19 million audience members at The Majestic Theatre on Broadway alone.

Now that Phantom has closed, the longest-running show title will go to Chicago, which debuted in 1996, followed by The Lion King, which began performances in 1997.

Broadway was affected by the pandemic due to continuous lockdowns and the closure of all theatres for more than 18 months.

Some of the most popular shows, such as Hamilton, The Lion King, and Wicked, have rebounded effectively, whilst others have not.

A constant flow of tourists to the city has not yet returned to pre-pandemic levels, which may explain why Phantom has yet to achieve profitability.