A new musical based on the television series of the same name is in development. Like the series, the musical will generally follow the rollercoaster ride of mounting "Bombshell" (the Broadway musical-within-the-musical about the life of Marilyn Monroe), the stage musical will depart liberally from the series. The characters Julia and Tom (the writers), as well as Ivy and Karen (the stars) will still be central to the storyline, but all other details are being kept under wraps.

This new musical held a Workshop in NYC in Summer 2022, and another in the Fall of 2023. The latter featured Robyn Hurder & Kerry Butler. "Smash" was created by Theresa Rebeck and debuted on NBC in 2012. It played 2 seasons.