I've watched the Tonys in Times Square for the last several years, and it's a pretty fun time. As someone mentioned, they have hosts for it and those hosts perform and it's fun. In 2014, a friend of mine won a contest so we got to be in the front row of the Times Square viewing party and it was Kerry Butler and Justin Guarini hosting, and they were great. Both performed and were just all around fun.
"Anybody that goes to the theater, I think we’re all misfits, so we ended up on stage or in the audience.” --- Patti LuPone.