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Yahoo
3 days ago
- Business
- Yahoo
Pride events face budget shortfalls as US corporations pull support ahead of summer festivities
SAN FRANCISCO (AP) — Many U.S. corporations this year stopped supporting Pride events that celebrate LGBTQ+ culture and rights, causing hundreds of thousands of dollars in budget shortfalls ahead of the summer festivities and raising questions about corporate America's commitment to the cause. The moves come as President Donald Trump has shown antipathy for trans protections and has attempted to roll back some LGBTQ+ friendly federal policies. Experts also note that a growing slice of the public has grown tired of companies taking a stance on social and political issues. San Francisco Pride, the nonprofit that produces one of the country's largest and best-known LGBTQ+ celebrations, is facing a $200,000 budget gap after corporate donors dropped out. In Kansas City, Missouri, KC Pride lost about $200,000 — roughly half its annual budget. Heritage of Pride, the umbrella organization behind NYC Pride and other LGBTQ+ events in New York City, is fundraising to narrow a $750,000 budget gap after companies withdrew. Meanwhile, Budweiser brewer Anheuser-Busch ended its sponsorship of PrideFest in St. Louis, Missouri, its home base, after 30 years, leaving organizers with a $150,000 budget shortfall. In response, many Pride organizations have canceled some dance parties, reduced the number of stages, hired less pricey headliners and no longer give volunteers free food or T-shirts. But the core celebrations will go on. In San Francisco, this year's Pride theme is 'Queer Joy is Resistance.' In New York, it's 'Rise Up: Pride in Protest,' and, in Boston, it's 'Here to Stay!' 'If you come to Pride this year, that's a revolutionary act,' said Suzanne Ford, executive director of San Francisco Pride. 'You are sending a message to those in Washington that, here in San Francisco, we still have the same values that we've always had — you can love who you love here. We're not going to retreat from that.' Following media coverage of their retreat, some companies changed course but asked that their names not be affiliated with the events, the event organizers said. Corporations rethink Prid e sponsorships San Francisco Pride earlier this year lost the support of five major corporate donors, including Comcast, Anheuser-Busch and Diageo, the beverage giant that makes Guinness beer and Smirnoff vodka. 'With everything we're facing from the Trump administration, to lose five of your partners within a couple of weeks, it felt like we were being abandoned,' Ford said. After the withdrawals drew attention, some corporations said they would donate but only anonymously, Ford said, declining to identify those companies. As of this week, neither Comcast, Anheuser-Busch nor Diageo appeared on the organization's website as sponsors of the June 29 festivities. It was unclear if they donated. Anheuser-Busch and Diageo didn't reply to emails from The Associated Press seeking comment. A spokesperson for Comcast also declined to comment but said some of its companies are sponsoring Silicon Valley Pride and Oakland Pride. NYC Pride spokesperson Chris Piedmont said about 20% of its corporate sponsors either dropped their support or scaled back, including New York-based PepsiCo and Nissan. Kyle Bazemore, Nissan North America's director of corporate communications, said the decision comes as the automaker reviews all of its marketing expenses to lower costs. PepsiCo did not return an email seeking comment. Piedmont said NYC Pride has also received anonymous corporate funding and that he appreciates the unpublicized support. 'Writing a check to a nonprofit and supporting a nonprofit with no strings attached is stepping up to the plate,' Piedmont said. Companies retreat from 'brand activism' The shift reflects how corporations are adjusting to a changing cultural landscape that began during the pandemic and accelerated with Trump's second term, experts said. 'Companies are resourceful, they are clever at identifying trends and studying their environment and their customers' needs, but those needs change and corporations adjust,' said Amir Grinstein, a marketing professor at Northeastern University. Corporations' presence in rainbow-filled Pride parades, concerts and dance parties became more ubiquitous after the landmark 2015 Supreme Court ruling that legalized same-sex marriage nationwide, as companies splashed their names on parade floats, rainbow flags and bright plastic bracelets. So-called brand activism reached its peak between 2016 to 2022, a period of social upheaval around the pandemic, police brutality and transgender rights, Grinstein said. But research has since found a growing number of American consumers don't want companies taking positions on such topics, said Barbara Kahn, a marketing professor at the University of Pennsylvania's Wharton School. 'There have always been people who said, 'I don't want my toothpaste to have an opinion, I just want to use my toothpaste,' but the tide has shifted, and research shows there are more people that feel that way now," Kahn said. Pride organizers keep their distance from some corporations Meanwhile, Republican-led states have been passing legislation to curtail diversity, equity and inclusion initiatives and LGBTQ+ rights, especially the ability of transgender young people to participate in sports or receive gender-affirming care. Trump signed executive orders on his first day in office that rolled back protections for transgender people and terminated federal DEI programs. Some companies followed suit by eliminating their DEI goals, prompting Pride organizations to sever ties. San Francisco's organizers cut ties with Meta after the parent company of Facebook and Instagram terminated its DEI goals and content moderation policies. Twin Cities Pride ended its relationship with Target over the Minneapolis-based retailer's curtailing of its DEI initiatives following a backlash from conservatives and the White House. The company's retreat from DEI policies led to a counter-boycott by civil rights advocates. Target announced in May that sales fell more than expected in the first quarter due to customer boycotts, tariffs and other economic factors. The company now offers only some Pride products at a few stores and online. Still, Rick Gomez, Target's chief commercial officer, told reporters in May that it's important to celebrate Heritage Months, which highlight different groups from Latinos to Asian Americans to the LGBTQ+ community. "They drive sales growth for us,' he said. Asking the community for financial support First-time donations from individuals, foundations and local businesses have increased following corporate America's retreat. In Minneapolis, a crowdfunding campaign by Twin Cities Pride to fill a $50,000 funding gap raised more than $89,000. In San Francisco, two local foundations donated $55,000 combined. 'This isn't the first year that there's been an inflammatory climate around Pride,' said James Moran, a spokesperson for KC Pride, in Kansas City, Missouri. 'We know that our community is looking for spaces that are meant for us, where we can celebrate but also process what's going on and build our own support networks.' ___ Associated Press retail reporter Anne D'Innocenzio in New York City contributed.
Yahoo
3 days ago
- Business
- Yahoo
Pride events face budget shortfalls as US corporations pull support ahead of summer festivities
SAN FRANCISCO (AP) — Many U.S. corporations this year stopped supporting Pride events that celebrate LGBTQ+ culture and rights, causing hundreds of thousands of dollars in budget shortfalls ahead of the summer festivities and raising questions about corporate America's commitment to the cause. The moves come as President Donald Trump has shown antipathy for trans protections and has attempted to roll back some LGBTQ+ friendly federal policies. Experts also note that a growing slice of the public has grown tired of companies taking a stance on social and political issues. San Francisco Pride, the nonprofit that produces one of the country's largest and best-known LGBTQ+ celebrations, is facing a $200,000 budget gap after corporate donors dropped out. In Kansas City, Missouri, KC Pride lost about $200,000 — roughly half its annual budget. Heritage of Pride, the umbrella organization behind NYC Pride and other LGBTQ+ events in New York City, is fundraising to narrow a $750,000 budget gap after companies withdrew. Meanwhile, Budweiser brewer Anheuser-Busch ended its sponsorship of PrideFest in St. Louis, Missouri, its home base, after 30 years, leaving organizers with a $150,000 budget shortfall. In response, many Pride organizations have canceled some dance parties, reduced the number of stages, hired less pricey headliners and no longer give volunteers free food or T-shirts. But the core celebrations will go on. In San Francisco, this year's Pride theme is 'Queer Joy is Resistance.' In New York, it's 'Rise Up: Pride in Protest,' and, in Boston, it's 'Here to Stay!' 'If you come to Pride this year, that's a revolutionary act,' said Suzanne Ford, executive director of San Francisco Pride. 'You are sending a message to those in Washington that, here in San Francisco, we still have the same values that we've always had — you can love who you love here. We're not going to retreat from that.' Following media coverage of their retreat, some companies changed course but asked that their names not be affiliated with the events, the event organizers said. Corporations rethink Prid e sponsorships San Francisco Pride earlier this year lost the support of five major corporate donors, including Comcast, Anheuser-Busch and Diageo, the beverage giant that makes Guinness beer and Smirnoff vodka. 'With everything we're facing from the Trump administration, to lose five of your partners within a couple of weeks, it felt like we were being abandoned,' Ford said. After the withdrawals drew attention, some corporations said they would donate but only anonymously, Ford said, declining to identify those companies. As of this week, neither Comcast, Anheuser-Busch nor Diageo appeared on the organization's website as sponsors of the June 29 festivities. It was unclear if they donated. Anheuser-Busch and Diageo didn't reply to emails from The Associated Press seeking comment. A spokesperson for Comcast also declined to comment but said some of its companies are sponsoring Silicon Valley Pride and Oakland Pride. NYC Pride spokesperson Chris Piedmont said about 20% of its corporate sponsors either dropped their support or scaled back, including New York-based PepsiCo and Nissan. Kyle Bazemore, Nissan North America's director of corporate communications, said the decision comes as the automaker reviews all of its marketing expenses to lower costs. PepsiCo did not return an email seeking comment. Piedmont said NYC Pride has also received anonymous corporate funding and that he appreciates the unpublicized support. 'Writing a check to a nonprofit and supporting a nonprofit with no strings attached is stepping up to the plate,' Piedmont said. Companies retreat from 'brand activism' The shift reflects how corporations are adjusting to a changing cultural landscape that began during the pandemic and accelerated with Trump's second term, experts said. 'Companies are resourceful, they are clever at identifying trends and studying their environment and their customers' needs, but those needs change and corporations adjust,' said Amir Grinstein, a marketing professor at Northeastern University. Corporations' presence in rainbow-filled Pride parades, concerts and dance parties became more ubiquitous after the landmark 2015 Supreme Court ruling that legalized same-sex marriage nationwide, as companies splashed their names on parade floats, rainbow flags and bright plastic bracelets. So-called brand activism reached its peak between 2016 to 2022, a period of social upheaval around the pandemic, police brutality and transgender rights, Grinstein said. But research has since found a growing number of American consumers don't want companies taking positions on such topics, said Barbara Kahn, a marketing professor at the University of Pennsylvania's Wharton School. 'There have always been people who said, 'I don't want my toothpaste to have an opinion, I just want to use my toothpaste,' but the tide has shifted, and research shows there are more people that feel that way now," Kahn said. Pride organizers keep their distance from some corporations Meanwhile, Republican-led states have been passing legislation to curtail diversity, equity and inclusion initiatives and LGBTQ+ rights, especially the ability of transgender young people to participate in sports or receive gender-affirming care. Trump signed executive orders on his first day in office that rolled back protections for transgender people and terminated federal DEI programs. Some companies followed suit by eliminating their DEI goals, prompting Pride organizations to sever ties. San Francisco's organizers cut ties with Meta after the parent company of Facebook and Instagram terminated its DEI goals and content moderation policies. Twin Cities Pride ended its relationship with Target over the Minneapolis-based retailer's curtailing of its DEI initiatives following a backlash from conservatives and the White House. The company's retreat from DEI policies led to a counter-boycott by civil rights advocates. Target announced in May that sales fell more than expected in the first quarter due to customer boycotts, tariffs and other economic factors. The company now offers only some Pride products at a few stores and online. Still, Rick Gomez, Target's chief commercial officer, told reporters in May that it's important to celebrate Heritage Months, which highlight different groups from Latinos to Asian Americans to the LGBTQ+ community. "They drive sales growth for us,' he said. Asking the community for financial support First-time donations from individuals, foundations and local businesses have increased following corporate America's retreat. In Minneapolis, a crowdfunding campaign by Twin Cities Pride to fill a $50,000 funding gap raised more than $89,000. In San Francisco, two local foundations donated $55,000 combined. 'This isn't the first year that there's been an inflammatory climate around Pride,' said James Moran, a spokesperson for KC Pride, in Kansas City, Missouri. 'We know that our community is looking for spaces that are meant for us, where we can celebrate but also process what's going on and build our own support networks.' ___ Associated Press retail reporter Anne D'Innocenzio in New York City contributed. Olga R. Rodriguez, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
3 days ago
- Business
- The Independent
Pride events face budget shortfalls as US corporations pull support ahead of summer festivities
Many U.S. corporations this year stopped supporting Pride events that celebrate LGBTQ+ culture and rights, causing hundreds of thousands of dollars in budget shortfalls ahead of the summer festivities and raising questions about corporate America's commitment to the cause. The moves come as President Donald Trump has shown antipathy for trans protections and has attempted to roll back some LGBTQ+ friendly federal policies. Experts also note that a growing slice of the public has grown tired of companies taking a stance on social and political issues. San Francisco Pride, the nonprofit that produces one of the country's largest and best-known LGBTQ+ celebrations, is facing a $200,000 budget gap after corporate donors dropped out. In Kansas City, Missouri, KC Pride lost about $200,000 — roughly half its annual budget. Heritage of Pride, the umbrella organization behind NYC Pride and other LGBTQ+ events in New York City, is fundraising to narrow a $750,000 budget gap after companies withdrew. Meanwhile, Budweiser brewer Anheuser-Busch ended its sponsorship of PrideFest in St. Louis, Missouri, its home base, after 30 years, leaving organizers with a $150,000 budget shortfall. In response, many Pride organizations have canceled some dance parties, reduced the number of stages, hired less pricey headliners and no longer give volunteers free food or T-shirts. But the core celebrations will go on. In San Francisco, this year's Pride theme is 'Queer Joy is Resistance.' In New York, it's 'Rise Up: Pride in Protest,' and, in Boston, it's 'Here to Stay!' 'If you come to Pride this year, that's a revolutionary act,' said Suzanne Ford, executive director of San Francisco Pride. 'You are sending a message to those in Washington that, here in San Francisco, we still have the same values that we've always had — you can love who you love here. We're not going to retreat from that.' Following media coverage of their retreat, some companies changed course but asked that their names not be affiliated with the events, the event organizers said. Corporations rethink Prid e sponsorships San Francisco Pride earlier this year lost the support of five major corporate donors, including Comcast, Anheuser-Busch and Diageo, the beverage giant that makes Guinness beer and Smirnoff vodka. 'With everything we're facing from the Trump administration, to lose five of your partners within a couple of weeks, it felt like we were being abandoned,' Ford said. After the withdrawals drew attention, some corporations said they would donate but only anonymously, Ford said, declining to identify those companies. As of this week, neither Comcast, Anheuser-Busch nor Diageo appeared on the organization's website as sponsors of the June 29 festivities. It was unclear if they donated. Anheuser-Busch and Diageo didn't reply to emails from The Associated Press seeking comment. A spokesperson for Comcast also declined to comment but said some of its companies are sponsoring Silicon Valley Pride and Oakland Pride. NYC Pride spokesperson Chris Piedmont said about 20% of its corporate sponsors either dropped their support or scaled back, including New York-based PepsiCo and Nissan. Kyle Bazemore, Nissan North America's director of corporate communications, said the decision comes as the automaker reviews all of its marketing expenses to lower costs. PepsiCo did not return an email seeking comment. Piedmont said NYC Pride has also received anonymous corporate funding and that he appreciates the unpublicized support. 'Writing a check to a nonprofit and supporting a nonprofit with no strings attached is stepping up to the plate,' Piedmont said. Companies retreat from 'brand activism' The shift reflects how corporations are adjusting to a changing cultural landscape that began during the pandemic and accelerated with Trump's second term, experts said. 'Companies are resourceful, they are clever at identifying trends and studying their environment and their customers' needs, but those needs change and corporations adjust,' said Amir Grinstein, a marketing professor at Northeastern University. Corporations' presence in rainbow-filled Pride parades, concerts and dance parties became more ubiquitous after the landmark 2015 Supreme Court ruling that legalized same-sex marriage nationwide, as companies splashed their names on parade floats, rainbow flags and bright plastic bracelets. So-called brand activism reached its peak between 2016 to 2022, a period of social upheaval around the pandemic, police brutality and transgender rights, Grinstein said. But research has since found a growing number of American consumers don't want companies taking positions on such topics, said Barbara Kahn, a marketing professor at the University of Pennsylvania's Wharton School. 'There have always been people who said, 'I don't want my toothpaste to have an opinion, I just want to use my toothpaste,' but the tide has shifted, and research shows there are more people that feel that way now," Kahn said. Pride organizers keep their distance from some corporations Meanwhile, Republican-led states have been passing legislation to curtail diversity, equity and inclusion initiatives and LGBTQ+ rights, especially the ability of transgender young people to participate in sports or receive gender-affirming care. Trump signed executive orders on his first day in office that rolled back protections for transgender people and terminated federal DEI programs. Some companies followed suit by eliminating their DEI goals, prompting Pride organizations to sever ties. San Francisco's organizers cut ties with Meta after the parent company of Facebook and Instagram terminated its DEI goals and content moderation policies. Twin Cities Pride ended its relationship with Target over the Minneapolis-based retailer's curtailing of its DEI initiatives following a backlash from conservatives and the White House. The company's retreat from DEI policies led to a counter-boycott by civil rights advocates. Target announced in May that sales fell more than expected in the first quarter due to customer boycotts, tariffs and other economic factors. The company now offers only some Pride products at a few stores and online. Still, Rick Gomez, Target's chief commercial officer, told reporters in May that it's important to celebrate Heritage Months, which highlight different groups from Latinos to Asian Americans to the LGBTQ+ community. "They drive sales growth for us,' he said. Asking the community for financial support First-time donations from individuals, foundations and local businesses have increased following corporate America's retreat. In Minneapolis, a crowdfunding campaign by Twin Cities Pride to fill a $50,000 funding gap raised more than $89,000. In San Francisco, two local foundations donated $55,000 combined. 'This isn't the first year that there's been an inflammatory climate around Pride,' said James Moran, a spokesperson for KC Pride, in Kansas City, Missouri. 'We know that our community is looking for spaces that are meant for us, where we can celebrate but also process what's going on and build our own support networks.' ___ Associated Press retail reporter Anne D'Innocenzio in New York City contributed.
Associated Press
3 days ago
- Business
- Associated Press
Pride events face budget shortfalls as US corporations pull support ahead of summer festivities
SAN FRANCISCO (AP) — Many U.S. corporations this year stopped supporting Pride events that celebrate LGBTQ+ culture and rights, causing hundreds of thousands of dollars in budget shortfalls ahead of the summer festivities and raising questions about corporate America's commitment to the cause. The moves come as President Donald Trump has shown antipathy for trans protections and has attempted to roll back some LGBTQ+ friendly federal policies. Experts also note that a growing slice of the public has grown tired of companies taking a stance on social and political issues. San Francisco Pride, the nonprofit that produces one of the country's largest and best-known LGBTQ+ celebrations, is facing a $200,000 budget gap after corporate donors dropped out. In Kansas City, Missouri, KC Pride lost about $200,000 — roughly half its annual budget. Heritage of Pride, the umbrella organization behind NYC Pride and other LGBTQ+ events in New York City, is fundraising to narrow a $750,000 budget gap after companies withdrew. Meanwhile, Budweiser brewer Anheuser-Busch ended its sponsorship of PrideFest in St. Louis, Missouri, its home base, after 30 years, leaving organizers with a $150,000 budget shortfall. In response, many Pride organizations have canceled some dance parties, reduced the number of stages, hired less pricey headliners and no longer give volunteers free food or T-shirts. But the core celebrations will go on. In San Francisco, this year's Pride theme is 'Queer Joy is Resistance.' In New York, it's 'Rise Up: Pride in Protest,' and, in Boston, it's 'Here to Stay!' 'If you come to Pride this year, that's a revolutionary act,' said Suzanne Ford, executive director of San Francisco Pride. 'You are sending a message to those in Washington that, here in San Francisco, we still have the same values that we've always had — you can love who you love here. We're not going to retreat from that.' Following media coverage of their retreat, some companies changed course but asked that their names not be affiliated with the events, the event organizers said. Corporations rethink Prid e sponsorships San Francisco Pride earlier this year lost the support of five major corporate donors, including Comcast, Anheuser-Busch and Diageo, the beverage giant that makes Guinness beer and Smirnoff vodka. 'With everything we're facing from the Trump administration, to lose five of your partners within a couple of weeks, it felt like we were being abandoned,' Ford said. After the withdrawals drew attention, some corporations said they would donate but only anonymously, Ford said, declining to identify those companies. As of this week, neither Comcast, Anheuser-Busch nor Diageo appeared on the organization's website as sponsors of the June 29 festivities. It was unclear if they donated. Anheuser-Busch and Diageo didn't reply to emails from The Associated Press seeking comment. A spokesperson for Comcast also declined to comment but said some of its companies are sponsoring Silicon Valley Pride and Oakland Pride. NYC Pride spokesperson Chris Piedmont said about 20% of its corporate sponsors either dropped their support or scaled back, including New York-based PepsiCo and Nissan. Kyle Bazemore, Nissan North America's director of corporate communications, said the decision comes as the automaker reviews all of its marketing expenses to lower costs. PepsiCo did not return an email seeking comment. Piedmont said NYC Pride has also received anonymous corporate funding and that he appreciates the unpublicized support. 'Writing a check to a nonprofit and supporting a nonprofit with no strings attached is stepping up to the plate,' Piedmont said. Companies retreat from 'brand activism' The shift reflects how corporations are adjusting to a changing cultural landscape that began during the pandemic and accelerated with Trump's second term, experts said. 'Companies are resourceful, they are clever at identifying trends and studying their environment and their customers' needs, but those needs change and corporations adjust,' said Amir Grinstein, a marketing professor at Northeastern University. Corporations' presence in rainbow-filled Pride parades, concerts and dance parties became more ubiquitous after the landmark 2015 Supreme Court ruling that legalized same-sex marriage nationwide, as companies splashed their names on parade floats, rainbow flags and bright plastic bracelets. So-called brand activism reached its peak between 2016 to 2022, a period of social upheaval around the pandemic, police brutality and transgender rights, Grinstein said. But research has since found a growing number of American consumers don't want companies taking positions on such topics, said Barbara Kahn, a marketing professor at the University of Pennsylvania's Wharton School. 'There have always been people who said, 'I don't want my toothpaste to have an opinion, I just want to use my toothpaste,' but the tide has shifted, and research shows there are more people that feel that way now,' Kahn said. Pride organizers keep their distance from some corporations Meanwhile, Republican-led states have been passing legislation to curtail diversity, equity and inclusion initiatives and LGBTQ+ rights, especially the ability of transgender young people to participate in sports or receive gender-affirming care. Trump signed executive orders on his first day in office that rolled back protections for transgender people and terminated federal DEI programs. Some companies followed suit by eliminating their DEI goals, prompting Pride organizations to sever ties. San Francisco's organizers cut ties with Meta after the parent company of Facebook and Instagram terminated its DEI goals and content moderation policies. Twin Cities Pride ended its relationship with Target over the Minneapolis-based retailer's curtailing of its DEI initiatives following a backlash from conservatives and the White House. The company's retreat from DEI policies led to a counter-boycott by civil rights advocates. Target announced in May that sales fell more than expected in the first quarter due to customer boycotts, tariffs and other economic factors. The company now offers only some Pride products at a few stores and online. Still, Rick Gomez, Target's chief commercial officer, told reporters in May that it's important to celebrate Heritage Months, which highlight different groups from Latinos to Asian Americans to the LGBTQ+ community. 'They drive sales growth for us,' he said. Asking the community for financial support First-time donations from individuals, foundations and local businesses have increased following corporate America's retreat. In Minneapolis, a crowdfunding campaign by Twin Cities Pride to fill a $50,000 funding gap raised more than $89,000. In San Francisco, two local foundations donated $55,000 combined. 'This isn't the first year that there's been an inflammatory climate around Pride,' said James Moran, a spokesperson for KC Pride, in Kansas City, Missouri. 'We know that our community is looking for spaces that are meant for us, where we can celebrate but also process what's going on and build our own support networks.' ___ Associated Press retail reporter Anne D'Innocenzio in New York City contributed.
Fast Company
5 days ago
- Business
- Fast Company
So much for corporate Pride: A quarter of NYC's Pride sponsors have backed out
Last week, the nonprofit that runs New York City Pride revealed that around a quarter of its corporate donors have either canceled or diminished their support this year. The pullback has result in an estimated $750,000 shortfall for the organization as it gears up for its biggest event of the year. According to Chris Piedmont, media director at Heritage of Pride, many sponsors cited uncertainty around the economic impact of tariffs as their reasoning for scaling back. Others, though, 'expressed concern about potential blowback from the current administration for publicly supporting Pride and other [DEI] initiatives.' It's a troubling new chapter in a months-long trend of companies that once championed—and, in some cases, profited off of —DEI initiatives, which are now quietly diminishing their support. The drop in corporate sponsorship isn't isolated to New York City; it's happening across the country, from San Francisco to St. Louis, Missouri, to St. Petersburg, Florida. Joanna Schwartz is a professor at Georgia College & State University with a specialty in LGBTQ+ marketing. She says that, while there has been more caution around this marketing in the last few years, the current political climate has made companies especially fearful of the backlash that might come with supporting the queer community. Amid this climate of capitulation, Schwartz says it's 'more valuable' than ever for companies who truly hold LGBTQ+ support as a core value to stand by the community rather than abandoning it. Pride celebrations losing sponsorship dollars In a press release sent to supporters last week, Heritage of Pride said NYC Pride is hoping to raise $25,000 before June 30 to account for its funding gap. While the number of partners supporting the event has actually increased from 70 last year to 76 this year, overall investment has taken a drastic hit. Spokesperson Kevin Kilbride told the New York Times that PepsiCo, Skyy Vodka, Target, Nissan, and Mastercard are some of the brands that either backed out, reduced their contributions, or asked for their involvement to go unpublicized. In a statement to Fast Company, Nissan said it 'is currently reviewing all marketing and sales spending—including select consumer auto shows, sports properties and other entertainment activations—to maximize both efficiency and breakthrough effectiveness.' L'Oreal is the only brand returning from 2024 as a platinum sponsor, contributing $175,000 to NYC Pride. Meanwhile, small, local, and queer-owned businesses—like Brooklyn Brewery, Mischief Mates, Radiant Light Candles, and the Travel Agency—have stepped up in the absence of larger corporate sponsors. Still, the organization is in a challenging place as it looks to stage a successful Pride this year. Per the release, a 25% budget gap could mean fewer floats and performers, a loss in grant programs that aid queer New Yorkers, and difficulty hiring security teams. These are concerns that have been echoed across the U.S. In St. Louis, Anheuser-Busch, a key sponsor of PrideFest for over 30 years, didn't renew its sponsorship in 2025. After other sponsors also pulled back, the organization was left with a $150,000 deficit. San Francisco Pride organizers told Bloomberg in late April that their event is down nearly $200,000 this year after Anheuser-Busch, Comcast, Benefit Cosmetics, and the liquor brand Diageo dropped their sponsorships. And Twin Cities Pride reported a similar financial shortfall as it waited to hear back from around 30 former sponsors. In small towns, the impact is felt even more acutely. Eve Keller, co-president of USA Prides, a national network of LGBTQ Pride organizers, told NBC News that some smaller, rural Prides have reported sponsorships declining 70% to 90% compared to the average year. Piedmont says it's been 'beyond disheartening' to watch corporations bow to public pressure at a time when the queer community, and especially trans individuals, are 'under attack now more than ever.' Last week, House Republicans passed a budget bill that a bill that would cut off Medicaid funding for all gender transition care. Experts have called it 'an assault' on transgender healthcare. (The bill still has to go to the Senate.) 'We need corporations and partners of all sizes to step up to the plate, stay on the right side of history and support the entire LGBTQIA+ community,' Piedmont says. 'We're here. We're queer. And we're not going anywhere. Regardless, our community will do what it has always done—from Stonewall, to Compton's Cafeteria, to the youth-led trans protests today—we march on.' Since last week's news of Heritage of Pride's budget shortfall, Piedmont says the organization has received nearly $10,000 from almost 100 different donors. A troubling chapter in a larger trend of capitulation The retreat of companies like Nissan and Anheuser-Busch, who once served as major Pride sponsors across the U.S., follows a more troubling trend. As the Trump administration pushes to codify its extreme views, brands including Tractor Supply Co., John Deere, Harley-Davidson, Ford, and Lowe's have walked back DEI efforts. 'Pride parades have typically been a relatively inexpensive opportunity for companies to demonstrate support for their LGBTQ+ employees while hitting a very targeted audience,' Schwartz says. 'But in the current political environment, companies are being far more careful about being connected to support for the community because there's a growing backlash calling attention to corporate efforts at inclusivity, particularly of LGBTQ+ people generally, and trans and nonbinary people in particular.' This is striking, Schwartz says, in that it feels like a regression to an era when corporate support for the queer community was almost nowhere to be found. When Pride first started out, it was a 'kind of grassroots way to acknowledge and celebrate Stonewall.' Only in the last decade or so have companies become more willing to openly sponsor queer events—so much so, in fact, that NYC Pride has previously faced criticism for transforming from a community-focused event into a ' corporate party.' 'Part of the benefit of sponsorship isn't just advertising to the LGBT community, but also showing support for your LGBT employees, so it builds community within organizations,' Schwartz says. 'Up until the last couple of years, companies were being more and more supportive of the LGBT community and, to be perfectly frank about it, also profiting off of that, which gets into rainbow capitalism.' 'Rainbow capitalism,' or 'rainbow washing,' generally refers to a company's outward support of the queer community, while not truly backing up LGBTQ+ customers or employees behind the scenes. The perception of rainbow washing is one of the reasons why Target, which spent years promoting Pride Month collections, is facing major financial backlash for its retreat from Pride and DEI efforts at large. Financially speaking, there was a good reason for companies to embrace the queer community: According to a 2023 study by the investment adviser LGBT Capital, LGBTQ+ people hold an estimated $3.9 trillion in global purchasing power. 'You don't want to let that part of the community think you just don't care about it, but unlike every other sub-population in the United States, that's the one target that, if you advertise to it, you potentially lose other customers,' Schwartz says. Anheuser-Busch subsidiary Bud Light experienced a similar problem in 2023. After the company released a small ad campaign featuring trans influencer Dylan Mulvaney, conservative critics spread transphobic rhetoric and advocated boycotting the brand. Bud Light shrank away from critics rather than facing them head-on, in turn alienating its queer customers. In 2023 alone, Bud Light lost an estimated $1.4 billion in U.S. beer sales as both conservatives and LGBTQ+ advocates spoke out against it. Currently, some companies are publicly retreating from DEI initiatives while still maintaining behind-the-scenes initiatives, like support for LGBTQ+ employee resource groups. Schwartz says she's also noticed a trend of companies being much more careful about how they support the queer community, like avoiding any overt reference to trans or non-binary people, in order to avoid becoming 'targets' of conservative media or the Trump administration. She believes this overarching fear is the main reason that many companies are backing out of Pride celebrations this year. 'They're saying, 'There's shifting corporate alignment, and we're looking at our advertising budgets.' All of that is just a polite way of a company saying, 'We're too scared to do this, and we don't want to own it because we also don't want to disenfranchise the LGBT community,'' Schwartz says. For many LGBTQ+ community members, there's a feeling that some companies only offered their support when it was convenient, and are retracting it now that the optics are no longer as beneficial. On Reddit, dozens of users are collating lists of companies deemed 'fair weather friends' for their recent backtracking. 'The [queer] community has been completely abandoned by a number of major companies, across a lot of brand categories,' Schwartz says. 'The current prevailing wind is out of a far more conservative place, and companies are trying not to make anyone mad, but the companies that were really trying to make an easy buck off of the community were the first ones to leave. In that way, there is a little bit more of a purity with the companies that have stuck around.'
