how much money does publishers clearing house give away
Publishers Clearing House Although Publishers Clearing House advertises its sweepstakes along with magazine subscriptions, no purchase is necessary to enter or win.[10][43][44] In 1995, Publishers Clearing House began the tradition of announcing winners of its $10 million prize just after the Super Bowl.[45] As of 2012, $225 million in prizes have been distributed.[8] Some of its larger prizes are for $5,000 a week for life,[46] or $10 million.[47] Prizes can also range from $1 Amazon gift cards to $2,500, $1 million or $3 million.[48] The larger cash prizes are paid in installments, typically with a balloon payment at 30 years,[49] reducing the present value of prizes to much less than their nominal values.
Publishers Clearing House In 1967 Publishers Clearing House started its first sweepstakes as a way to increase subscription sales,[9] based on the sweepstakes held by Reader's Digest.[4] The first prizes ranged from 25 cents to $10 and entrants had a 1 in 10 chance of winning. After the sweepstakes increased response rates to mailings, prizes of[8] $5,000[6] and eventually $250,000 were offered.[10] PCH began advertising the sweepstakes on TV in 1974.[7][11] It was the only major multi-magazine subscription business until 1977. Former client Time Inc. and several other publishers formed American Family Publishers to compete with Publishers Clearing House after the company refused repeated requests by Time for a larger share of sales revenue from magazine subscriptions.[4][8]
Publishers Clearing House PCH is a direct-marketing company that sells merchandise, magazine subscriptions and operates several prize-based websites.[11] While best known for the sweepstakes and Prize Patrol it uses to promote its magazine subscriptions,[1][13][35] the majority of the company's revenue now comes from merchandise.[11] The company has been selling books, media, jewelry and other consumer items[4] since the 1980s.[8] PCH operates eight websites, including PCH Search and Win, PCH Lotto, PCH Games, PCH Save and Win, and Candystand.[1][11]
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