Globally, the theatre industry generates approximately $10 billion annually. The financial epicentres of this art form are New York's Broadway, which generates approximately $2 billion annually, and London's West End, which generates around $1 billion annually. These two combined, alongside the regional tours and local shows all around the globe pushes this industry to the titan it is today. Although these numbers consider hundreds and hundreds of productions combined, there are a few heavy hitters that make up a huge bulk of these figures. From the longest running Broadway show, to 21st century classics, let's take a look at the five highest grossing musicals of all time!

5. The Book of Mormon

From the writers of South Park, came one of the most controversial, outrageous, and yet popular comedy musicals of all time. Opening on Broadway in 2011, the show follows two young Mormon missionaries who are sent to Uganda, where they attempt to spread their faith despite the cultural differences. With a bunch of NSFW themes and jaw-droppingly inappropriate jokes, initially the musical was met with a large tirade of upset from the general public (including the Mormon community, obviously). This controversy only catapulted it further into the cultural zeitgeist, making it a must-see' show - everyone and their mother wanted to know what all the fuss was about! Still going strong, playing Broadway, the West End and US tours, The Book of Mormon has grossed a little under $1 billion.

Gross Revenue: $892,245,130

4. Hamilton

For anyone who knows anything about theatre, it's no surprise that Hamilton is on this list; very few shows have had the cultural impact of Hamilton. Created by Lin-Manuel Miranda, Hamilton opened on Broadway in 2015, and was inspired by Ron Chernow's biography of Alexander Hamilton. The musical took a unique approach, instead of using ballads or pop songs, Hamilton took its musical influences from rap, hip-hop and RnB, making a name for itself with its incredibly catchy songs and intricate lyrics. Combining rap with a historical tale of one of America's Founding Fathers, was a recipe for success - landing it countless awards and earning big bucks globally

Revenue: $1,185,019,573

3. The Phantom of the Opera

Few shows have achieved the extraordinary longevity of The Phantom of the Opera. Opening in London's West End in 1986, The Phantom of the Opera was composed by the legendary Andrew Lloyd Webber and was based on Gaston Leroux's 1910 novel. Following its phenomenal success in London, The Phantom of the Opera opened on Broadway in 1988 and went on to become the longest-running show in Broadway history, with more than 13,900 performances before closing in 2023.

Gross Revenue: $1,364,632,622

2. Wicked

When it comes to the biggest musical theatre successes of the 21st century, few can compare to the phenomenon that is Wicked. Opening on Broadway in 2003, Wicked consists of the characters from L. Frank Baum's The Wonderful Wizard of Oz, telling the untold story of Elphaba and Glinda before Dorothy arrives in Oz. Musical theatre fans around the world loved it's combination of spectacular staging alongside hair-raising;y beautiful songs, such as Defying Gravity' and Popular'. Now in 2026, the musical has reached even more successful heights with the release of 2 cinematic onscreen releases, starring global superstars Arianna Grande and Cynthio Erivo.

Gross Revenue: $1,865,811,260

1. The Lion King

When it comes to the big blockbusters of Broadway, none compare to the financial titan that is The Lion King. Debuting in 1997, the Lion King was a stage adaption of the hit 1994 animated Disney film by the same name. Disney's The Beauty and The Beast had opened on Broadway in 1994 and was a huge success - so logically Disney looked at what other animations could be turned into on-stage success stories. Once the Lion King opened, it became a global on-stage hit and now boasts an incredible 11,347 performances. What makes The Lion King such an enduring piece of musical theatre is its emotional appeal to all ages alongside its timeless tracks, such as The Circle Of Life' and Hakuna Matata'.

Gross Revenue: : $2,192,097,819