The special, which aired on May 17, 2007 (#023SP), began with Bob standing in front of the plaque presented on the ceremonial 5,000th episode (in reality, it's the 5,132nd episode), saying, "From the Bob Barker Studio, CBS is celebrating my 50 years in television. Come on down; let's party!" The picture then cuts to a montage of photos, with the beginning of the show's theme, a portion of "Walking," "The Bean Stalker," "The Cats" and the end of the theme playing in the background; the light border is present on the screen while "Walking" plays. As the montage ends, the picture fades to a shot of the audience for the traditional opening.
This 50 Years special is an hour long but consists of only six segments. It features numerous clips and uses the half-hour gameplay format previously seen on The Price Is Right 25th Anniversary Special; the third segment of the show contains no gameplay. The pricing games played were Triple Play, ½ Off and Plinko.
The bulk of the 50 Years special is comprised of clips not only from The Price Is Right, but also of Bob hosting Truth or Consequences (1950) and appearing in a bit part on Bonanza (1959). An interview with Bob is also shown during the third segment.
- Leslie Moonves, who happens to be the president and chief executive officer (CEO) of CBS, came in honor of Bob's 50th year on TV and he and Bob would meet once a year.
- Bob's interview shown in the third segment of the show, consisted of six segments:
- "The Beginning" - Bob's early life and how he got into his radio career.
- "Dorothy Jo" - The relationship she and Bob had together and how they met.
- "Truth or Consequences" - Bob's start to TV, how he got the job, and the future of the show.
- "The Price is Right" - How he got promoted to the show and what he loved, as being the host for 35 years (1972-2007).
- "All Creatures Great and Small" - The love for all animals and the outrage towards Pageants displaying fur coats (either as prizes or their contestants wearing them over their swimsuits).
- "Retirement" - The reason for retiring from "The Price is Right", and what he admired, over the 50 years of his television career.
- Adam Sandler, who portrayed the role of Happy Gilmore where the character's name was also the movie's title in 1996, came to the special event after Plinko was played with a rather unique and slightly hilarious poem that he wrote for Bob.