Times Square is a major commercial intersection, tourist destination, and entertainment center in Midtown Manhattan. Originally called Longacre Square, it was renamed in 1904 when The New York Times moved its headquarters to the newly erected Times Building. It is famous for its massive electronic billboards, bright lights, and the annual New Year's Eve ball drop tradition, which began in 1907. Often called 'The Center of the Universe,' it is one of the world's most visited tourist attractions, drawing an estimated 50 million visitors annually. Times Square is also the hub of the Broadway Theater District. In a unique zoning requirement, the buildings in Times Square are legally required to display a certain amount of bright signage, ensuring the area maintains its iconic high-energy, illuminated atmosphere even as businesses change.