“The Outsiders,” the Tony Award-winning musical that made its world premiere at La Jolla Playhouse in March 2023, has become one of the most successful new Broadway musicals in years.

On Tuesday, the musical’s lead producers announced that, as of Dec. 28, they had recouped all of the show’s initial $22 million investment.

This is no small feat. Due to skyrocking production costs, it’s become nearly impossible for investors to earn their money back on a Broadway musical. The New York Times reported Tuesday that no new musical has recouped since 2022.

Based on the 1967 coming-of-age novel by S.E. Hinton and subsequent 1983 film by Francis Ford Coppola, “The Outsiders” is about a scrappy gang of teen boys from the wrong side of the tracks in 1960s Tulsa, Oklahoma. It features a book Adam Rapp and score by the Texas folk music duo Jamestown Revival and Justin Levine.

Debby Buchholz, La Jolla Playhouse’s managing director, said Tuesday it was an honor to launch “The Outsiders” into the world.

“Watching it thrive on Broadway has been a profound source of pride for everyone at La Jolla Playhouse,” Buchholz said. “We are deeply committed to the development of new plays and musicals, and ‘The Outsiders’’ continued success in New York is a testament to the extraordinary artists who brought it to life and to the San Diego audiences who embraced it.”

The musical opened on Broadway on April 11, 2024, at the Bernard B. Jacobs Theatre in Manhattan. Two months later, it won four Tony Awards, including the top prize of Best Musical. It has since played more than 760 performances to more than 781,000 audience members. A North American touring production is now under way and future productions are planned in London’s West End, Asia and Australia.

The company’s producers include The Araca Group, American Zoetrope and film star Angelina Jolie. In a press release Tuesday, Araca Group’s Matthew Rego, Michael Rego and Hank Unger said in a statement: “We’re thrilled by how audiences have embraced and supported ‘The Outsiders’ … We look forward to seeing it continue to impact current and future generations of theatergoers for many years to come.”