New York's Times Square received its name in 1904, before the famous New Year's Eve ball drop began.
The area was previously known as Longacre Square. It was renamed after The New York Times moved its headquarters to a new skyscraper there, now known as One Times Square. The newspaper marked the move with a major New Year's Eve celebration on December 31, 1904.
That 1904 celebration used fireworks to attract attention to the new headquarters. Fireworks were later replaced by a descending illuminated ball, which made its first appearance for the New Year's Eve celebration at the end of 1907. This creates a frequent date mix-up: 1904 belongs to the renaming and the newspaper's first major celebration, while 1907 belongs to the ball drop.
The Times building helped give the district its enduring name even after the newspaper later moved much of its operation elsewhere. One Times Square remains the visual and ceremonial center of the annual countdown.