The New Year's Eve tradition that takes place in Times Square at midnight is the ball drop.
The event centers on a large illuminated ball descending from One Times Square. The first Times Square ball drop was held on December 31, 1907, to welcome 1908. The celebration replaced a fireworks display that had been used to mark the opening of the New York Times' new headquarters.
The modern ball is covered with Waterford Crystal panels and is raised before the event begins. It descends for 60 seconds, reaching the base at midnight in New York. Millions of people have watched the ceremony in person or through television broadcasts.
The Times Square event is sometimes confused with New York City's broader New Year's Eve celebrations, which also include fireworks and public performances elsewhere. The ball drop specifically refers to the timed descent at One Times Square.