This totally isn't Netflix being inspired by the success of 'Hamilton' on Disney+...
The production is titled 'Diana'. The performance will see the cast and crew reunite in the Longacre Theatre, where it was set to open, to perform the musical for cameras.
The theatre will be empty during filming. They plan to put the finished product on the digital platform next year.
Thus it will premiere on demand before welcoming a live audience again.
The show's producers said in a statement: "We speak for the entire company when we say that we couldn't be more excited to finally be able to share our show with theater lovers everywhere.
"Though there is no substitute for the live theater, we are honored to be a part of the quality entertainment that Netflix provides its subscribers worldwide."
Producers have worked with Actors' Equity Association, the labour union representing actors and stage managers, on safety protocols for filming.
While 'Diana' started previews on Broadway in early March, it never officially opened as the current pandemic kicked in.
The show's new opening night will now be May 25, 2021.
'Diana' has songs by Bon Jovi keyboardist David Bryan and a story by playwright Joe DiPietro. The pair also collaborated on the Tony-winning show 'Memphis'.
Jeanna De Waal ('Wicked', 'American Idiot') stars in the title role.
The story explores Diana's glamour and charity work as well as the crumbling of her relationship with Prince Charles. She died in a car crash in Paris in 1997.
Diana's story will also feature in season four of Netflix series 'The Crown'.
The musical marks the first ever Broadway production to premiere on the small screen before its official stage debut.
Netflix has not announced the premiere date yet.