The film comedy starred Black as a musician who pretends to be a substitute fourth grade teacher at a prep school and transforms his students into a rock band.

Lloyd Webber is considering Broadway as the first stop for School of Rock because of U.S. child labor laws, which are not as strict as those in London. More restrictive child labor laws in the U.K. necessitate casting three to four children to fill one role due to the amount of time the young performers are able to work.

Lloyd Webber told the Telegraph that there was a "strong possibility" the production will premiere in New York first because it is easier to cast child performers in the U.S. He also added that the title's popularity in the States was an added bonus.

"You don't have to do all this triple casting, you can cast them as if they're adults and then you can have them for a six-month or a year contract if you want to, without these endless changes," he said. "And with a show that is so dependent on the children really being able to play, I think that's important."

School of Rock is currently in development, and Lloyd Webber cautioned that he will spend the summer working on the musical before deciding if the project will continue. The earliest audiences can expect to see School of Rock on stage is likely 2016. 

The musical will incorporate original songs from the film in addition to new material penned by Lloyd Webber.