December 28, 2015 3:09 PM EST

Every year, an epic New Year’s Eve party is thrown in New York City’s Times Square. The first celebration took place in 1904 to celebrate the opening of the New York Times’ office, and it soon turned into a tradition.

Now, a century later, 1 million people gather to count down as a gigantic, crystal-encrusted ball is lowered to usher in a new year.

Watch the video above to learn more about the origins of the iconic bash.

Contact us at editors@time.com.

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