A year has gone by giving way to renewed hopes, dreams, aspirations, and resolutions. While many may choose to spend the special moment by going out and partying others will choose to welcome New Year 2018 quietly in the comfort of their living room.

But no matter what you do, no celebration is complete without watching the Times Square Ball Drop on New Year's Eve which will be telecast live on ABC. The ball drop is one of the most iconic NYE celebrations that is being watched by people from around the world.

Where to watch the event live stream:

The star-studded evening will start live telecasting on ABC from 8 p.m. ET. Click here to watch the event live stream online.

Click here to watch Fox Network's New Year's Eve with Steve Harvey: Live From Times Square.

The ABC Gala event: Before the ball drop, which will begin at the final countdown, the network has planned a gala event – The Dick Clark's New Year's Rockin' Eve.Hosted by Ryan Seacrest the glittery event will have five and half hours of special performances and reports on New Year's celebrations from around the globe.

However, the main attraction will be the return of pop diva Mariah Carey, who was heavily criticised for her last year's disastrous NYE performance.

Network ABC and Carey issued a joint statement saying: "We can all agree that last year didn't go exactly as planned and we are thrilled to move forward together to provide America with an incredible night of music and celebration on Dick Clark's New Year's Rockin' Eve with Ryan Seacrest 2018. See you in Times Square!"

Seacrest, however, admitted that he is anxious about the highly anticipated event that will be watched by people around the globe. "We are really not in control. This is so different than doing a show on stage or in a theatre or in an arena. You are in Times Square with all the elements including windchill of -5. It's not like that on the set. This year we are anxious to see Mariah come back," he told E! Online.

Apart from hosting the prime event, Seacrest will also lead the traditional countdown to midnight from Times Square in New York City. Pop star Ciara will co-host the event live from Los Angeles, where audiences will be treated with rocking performances by Kane Brown, BTS, Kelly Clarkson, Fitz & The Tantrums, Florida Georgia Line, Halsey, Khalid, Shawn Mendes, Charlie Puth, Portugal.

Apart from ABC, Fox Network is also telecasting a gala event titled New Year's Eve with Steve Harvey: Live From Times Square. The event includes performances from Maroon 5, Zac Brown Band, Celine Dion, Backstreet Boys, Macklemore featuring Skylar Grey, Flo Rida, and Neil Diamond.