Times Square is the Manhattan venue at One Times Square where New York City's famous New Year's Eve ball drop occurs.
The intersection was known as Longacre Square until 1904, when it was renamed Times Square after The New York Times moved its headquarters into the newly built Times Building, now called One Times Square. The newspaper's move helped transform the area into a major advertising and entertainment center.
The first ball drop took place in 1907. Although the ball and event are associated with the entire square, the physical descent occurs at One Times Square, a tower at the northern end of the pedestrian plaza.
Times Square's large electronic signs, theaters, hotels, and dense visitor crowds make it a recognizable symbol of New York. The area is sometimes called “the Crossroads of the World,” but that nickname refers to Times Square generally, not specifically to New Year's Eve.