After tryouts in Philadelphia, Cleveland and Pittsburgh, The New Moon premiered on Broadway at the Imperial Theatre on September 19, 1928. Directed by librettists Hammerstein, Schwab and Mendel (all of whom were uncredited), the production was choreographed by Bobby Connolly and starred Robert Halliday and Evelyn Herbert.

Critical reception was glowing. J. Brooks Atkinson of The New York Times found the show “unusually pleasing,” adding, “deep, rushing, stirring, it is one of the best scores written for many months.” Burns Mantle of the Daily News praised the “score studded with hits,” and St. John Ervine of the New York World called the musical “the most charming and fragrant entertainment of its sort that I have seen for a long time. It is beautifully produced and beautifully acted and beautifully sung. It has taste and distinction.”

In November 1929, the production transferred to the Casino Theatre, where it ran through December 14, ending an impressive run of 509 performances.