Question: new york's iconic times square named before the title changed in 1904
Answer: Formerly known as Longacre Square , Times Square was renamed in 1904 after The New York Times moved its headquarters to the then newly erected Times Building -- now One Times Square -- the site of the annual New Year 's Eve ball drop which began on December 31 , 1907 , and continues today , attracting over a million visitors to Times Square every year .