I am way too cheap to even attempt a broadway show with my young children! If they nag or whine for one minute, no $200 per person ticket is worth the Lion King or any other show. But then again, there are always very rich parents, and very cultured parents, and very obedient children, or parents who are really good at ignoring their annoying children! So this really depends on your mental strength, and the depths of your pocket! I prefer lying down in bed and napping while they watch free Barney concerts on youtube than lugging them into the city to sit down still for two hours! But, when they are older and more appreciative, I will most definitely take them to The Lion King!
The best time to purchase tickets is when some shows offer 2 for 1 tickets during Broadway week. Visit www.nycgo.com for more information. Or check www.todaytix.com which lets you search for and purchase last-minute discounted tickets for Broadway, off-Broadway, and other theater performances around the city. People have also suggested going to the ticket booths the day (an hour prior to the show they start giving 50 percent off tickets), www.broadwaybox.com, www.broadwaytix.com, and the Broadway Lottery.