The New York Times’ move to One Times Square helped establish New York’s modern Times Square New Year’s Eve celebration.
The newspaper moved its headquarters to the newly constructed Times Building in 1904. To promote the building and its new location, The New York Times organized a large New Year’s Eve celebration featuring fireworks and crowds in the surrounding area.
The neighborhood was later renamed Times Square in honor of the newspaper. The fireworks display was replaced by the illuminated ball drop in 1907, creating the format that became internationally famous.
The newspaper eventually moved away from One Times Square, but the building retained its symbolic role in the celebration. The event is now organized by the Times Square Alliance and the city’s permitted event partners rather than functioning as a newspaper office party.