"The Lion King" on Broadway has passed $1 billion in ticket revenues, making it the first New York show to reach the box-office milestone.

The long-running Disney musical, which is based on the animated movie, officially passed the $1-billion mark during the week that ended on Sunday, according to data from the Broadway League. (The box-office figures don't take inflation into account.)

The musical, directed by Julie Taymor, opened in New York in 1997 at the New Amsterdam Theatre and is currently running at the Minskoff Theatre.

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Broadway box-office figures don't include revenue from touring or overseas productions of "The Lion King." The current U.S. tour of "The Lion King" is scheduled to open at the Pantages Theatre in Los Angeles on Nov. 20 and will run through Jan. 12.

Last year "The Lion King" surpassed "The Phantom of the Opera" as the highest grossing show in Broadway history. As of Sunday, "Phantom" has earned $928.9 million in ticket sales on Broadway.

When "The Lion King" first opened in New York 16 years ago, the average ticket price for the show was just $59. The musical, which is still a top weekly grosser on Broadway, has seen ticket prices more than double, with the average price of a ticket now at $134. 

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'The Lion King' surpasses 'Phantom of the Opera' as box-office champ