If you’re looking for the brief answer, then:
120Hz is better than 60Hz. Enjoy your new TV.
If you’re looking for a bit more of an explanation, then:
The hertz is the refresh rate of the screen; as in, how quickly the display refreshes and shows a new image. This isn’t like a top speed or a cap; it’s a fixed cycle that runs constantly. A 60Hz display redraws the image 60 times every second, and a 120Hz display redraws the image 120 times every second.
That sounds simple, right? The 120Hz display can show new images more quickly, so it’s smoother? That’s the gist of it, but that’s not really the reason why 120Hz is better than 60Hz.
Film is shot in 24 frames per second, and video tends to be 30 or 60 fps.
Video can be displayed smoothly on a display that operates at 60Hz because the number of frames divides evenly into the refresh rate—when your media has 30 fps, each frame can be shown twice and that’s fine.
But when you have 24 fps, you can’t map the film frames evenly onto the display frames. To get around that, something called a 3:2 pulldown is used. This is an algorithm that displays some of the frames three times, and some of them twice. By doing this, the number of fps in the film maps exactly to the refresh rate and everything is good.
But not really. Doing this introduces artifacts, particularly when things you see things like quick pans and fast motion—we end up with choppy, blurry video. You’ll have seen this on some TVs.
This is where 120Hz comes in. You can divide 24fps, 30fps and 60fps into 120Hz, so we don’t need to use the messy 3:2 pulldown system and all input can be displayed cleanly.