Family musical the Lion King has surpassed The Phantom of the Opera as Broadway's highest grossing show of all time, according to new box office estimates.

This accomplishment belongs to our audiences, millions of whom are experiencing their first Broadway show at The Lion King.

The production has raked in a total of $853,846,062 (£533,654,039)since its 1997 debut - over $700,000 (£437,500) more than Andrew Lloyd Webber's Phantom.

And President of Disney Theatrical Productions, Thomas Schumacher, is thrilled by the amazing feat, telling the Associated Press, "This accomplishment belongs to our audiences, millions of whom are experiencing their first Broadway show at The Lion King. Surely, introducing so many to the splendor of live theatre is our show's greatest legacy".

The Disney production, which features tunes from Sir Elton John and direction from former Spider-Man Turn Off the Dark visionary Julie Taymor, is the sixth longest-running show on Broadway.