This is the end of the fallas festival: all fallas are burned in the evening of March 19th. It symbolises a renewal, burning the old and starting again, just as spring begins. (By the way, the burning is controlled by firefighters, so it's far safer than it looks. To my knowledge, no accidents have ever happened. In fact, firefighters from other regions come every year to learn how to deal with such huge fires, so close to the buildings).
I took this photo of the TV, I was just too tired to brave the crowds and go in person - I can actually see a falla burn from my balcony, but it was too far for a photo.
Ian