Mayor Michael Bloomberg spoke to the "CBS This Morning" co-hosts about the initiative, which also includes a video series and a permanent installation in the heart of Times Square.
Bloomberg said the reason is to highlight the economic and cultural contributions Broadway offers to the city.
"Broadway brings entertainment and jobs," he said. "And those are two things we really care about."
The Mayor's Office said the $11.2 billion industry supports 86,000 jobs and sells over 12 million tickets each year. Not to mention the shows themselves, which are a huge draw for New York City's millions of visitors.
"For New York, this is what we're known for," Bloomberg said. "Even if you don't come to Broadway, you know Broadway is there. You know it's exciting. You know things are happening in New York."
Later this year, a large-scale, in-ground map will be installed in Times Square, which will provide visitors with a stylized view of all the Broadway theaters, while providing some history of the area, as well.
For the full interview with Mayor Michael Bloomberg, click on the video player above