The Price Is Right is an American television game show where contestants compete by guessing the prices of merchandise to win cash and prizes. A 1972 revival by Mark Goodson and Bill Todman of their 1956–1965 show of the same name, the new version added many distinctive gameplay elements. Contestants are selected from the studio audience: the announcer calls their name, invoking them to "Come on down!", the show's famous catchphrase.

A game show is a genre of broadcast viewing entertainment where contestants compete for rewards. The shows are typically directed by a host, who explains the rules of the game as well as commentating and narrating where necessary. The history of the game shows dates back to the late 1930s when both radio and television game shows were broadcast. The genre became popular in the United States in the 1950s, becoming a regular feature of daytime television.