Andrew Lloyd Webber has warned that Broadway is facing a serious crisis and believes urgent action is needed to protect its future.

On Tuesday, producers confirmed that Cats: The Jellicle Ball, the Tony Award winning reimagining of Webber's classic musical Cats, will close at the Broadhurst Theatre on 8 August.

Soon afterwards, the legendary composer shared a heartfelt message on Instagram, saying he is deeply worried about the current state of Broadway and the challenges facing productions in New York City's famous theatre district.

"What is happening in front of all who care about the Great White Way breaks my heart. One of the last things (director) Hal Prince said to me was that it broke his heart that it was impossible for new or daring work to be originated on Broadway anymore," he wrote. "The truth is that, for any show, it makes practically no financial sense to come to Broadway with things as they are."

Webber also questioned whether a landmark musical such as West Side Story would even have a realistic opportunity to debut on Broadway under today's financial conditions.

"With its big cast and orchestra it would break even at well over $1 million weekly before any royalties to creatives. With its sets and costumes, the production could easily cost $30 million (£22 million). That was Hal Prince's point," the musical theatre legend continued. "Creators, writers and directors have been forced to take minimal royalties from new shows, often surviving on a fixed weekly fee rather than a royalty. It makes it impossible for young creatives to make a living from theatre alone."

Although Webber acknowledged that Broadway's biggest productions continue to make money, he argued that the industry cannot rely on only a handful of long running successes.

"As someone who is still as in love with Broadway as I was when I was a teenager, I beg the theatre owners, unions and producers to come together urgently to address what is a crisis coming to a head," he added. "Broadway is in dire danger of rivalling Hollywood's empty soundstages with increasingly dark theatres."

Several well known stars responded to the 78 year old's message in support. Nicole Scherzinger wrote, "You're exactly the person to say this to help drive the change that's needed!" while Rachel Zegler replied with a single red heart emoji.