'The Phantom of the Opera', Broadway's Longest-Running Show, Will Close After 35 Years

"The Music of the Night" is bidding sweet dreams to the Great White Way.

After 35 years on Broadway, Andrew Lloyd Webber's The Phantom of the Opera will take its final bow on Feb. 18, 2023, at the Majestic Theatre, PEOPLE confirms, following a 35th anniversary celebration on Jan. 26.

"The Cameron Mackintosh and The Really Useful Group's Broadway production of Andrew Lloyd Webber's The Phantom of the Opera, directed by Harold Prince – the longest-running show in Broadway history – is confirmed to play its final 5 months," a rep for the show tells PEOPLE in a statement.

The flagship London production, which celebrates its 36th anniversary next month, will continue to play "with no end in sight." Meanwhile, the first Mandarin-language version of the show will open in China in 2023.

Based on the 1910 French novel by Gaston Leroux, The Phantom of the Opera opened on the West End in 1986 before making its Broadway debut in 1988. It won the Tony Award for best musical and has since inspired a 2004 Joel Schumacher-helmed film adaptation, starring Emmy Rossum, Gerard Butler, Patrick Wilson and Minnie Driver.

Directed by the late Harold Prince, the Broadway show's current cast stars Emilie Kouatchou, Ben Crawford and John Riddle.

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Kouatchou, who is the the first Black actress to play the lead role of Christine Daaé on Broadway, previously spoke to PEOPLE about the bittersweet victory of her casting last year.

"It frustrates me that it took this long, it does," she said in December. "I'm honored that it's me, and I'm honored that I'm making history, but I'm really excited for when it's not even a question, it's not even a thing, the first Black Christine."