The 78-year-old composer has spoken out following the news Cats: The Jellicle Ball - a re-imagined version of his globally popular musical Cats - is to close after just four months in New York's theatre district, despite a largely positive reception and expressed his despair at how hard it is for new productions to do well and break through into the mainstream.
In a series of posts on X, he wrote: "Ever since I was a child, I've wanted to write musicals. Although I'm British, Broadway was what musicals meant to me.
"To a boy growing up in Britain, Broadway was a distant, thrilling place where the greatest musical theatre in the world was born.
"The first of my musicals to be fully staged was Jesus Christ Superstar on Broadway in 1971. I will never forget that.
"Decades later, I chose to premiere School of Rock on Broadway. The Great White Way has always had a special place in my heart.
"In short, I love Broadway. That is why what is happening in front of everyone who cares about it now breaks my heart.
"One of the last things the great Hal Prince said to me was that it broke his heart to see what Broadway was becoming.
"Hal believed it had become almost impossible for genuinely new, daring work to originate on Broadway. I fear he was right."
Lloyd Webber explained that costs of staging a new production are making it virtually impossible to do so.
He continued: "The painful truth is that, with things as they are, bringing almost any new show to Broadway makes little financial sense.
"The costs are immense. Creators, writers and directors are often forced to accept minimal royalties simply to get work staged.
"Many now survive on a fixed weekly fee rather than sharing properly in the success of the work they helped to create.
"How can the next generation build a life in theatre under those conditions? Young creatives cannot live on goodwill alone.
"The situation is scarcely better for investors. Many count themselves fortunate if they recover even part of their money. Without investors willing to take risks, and artists able to make a living, where will Broadway's next generation of shows come from?
"Of course, Broadway's established hits remain profitable. But Broadway cannot survive creatively or commercially on three old shows. New and daring work must have a future—whether on Broadway itself or in new forms such as Masquerade, now nearing a year in New York.
"I am still as in love with Broadway as I was as a teenager. I want future generations to experience that same sense of possibility."
The Phantom of the Opera creator urged all those involved in the industry to take action to protect the future of theatre.
He concluded: "Theatre owners, unions and producers must come together urgently. Every part of the industry has a stake in finding a solution.
"Without action, Broadway risks rivalling Hollywood's empty soundstages: increasingly dark theatres where bold new work once lived.
"Broadway is more than a street or a collection of buildings. It is an idea—and one of the greatest cultural ideas America has given us.
"That idea is now in dire danger. I beg everyone with the power to protect it: come together before it is too late."
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