New York's Times Square was called Longacre Square when the first New Year's Eve ball drop was held there.
The name changed after The New York Times moved its headquarters to a new tower at the intersection of Broadway and Seventh Avenue. New York City renamed the area Times Square in 1904, linking the district to the newspaper and its building.
The first ball drop followed in 1907. By then, the new name was already in use, so the ball-drop tradition is properly associated with Times Square rather than Longacre Square. The earlier name is a frequent historical detail in accounts of the celebration because it identifies the area's pre-Times era.
Longacre Square itself was named for Long Acre in London and had been associated with the carriage trade. The district later became a major theater, entertainment, advertising, and transportation center, making it a natural setting for a globally visible public celebration.