Major companies scaling down participation in LGBTQ parades, according to WSJ
Companies have reportedly reduced their sponsorship of New York City Pride events for 2025 due to increasing political pressure and economic concerns, as reported by the Wall Street Journal. Major corporations are reassessing their LGBTQ sponsorships...
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Companies have reportedly reduced their sponsorship of New York City Pride events for 2025 due to increasing political pressure and economic concerns, as reported by the Wall Street Journal.
Major corporations are reassessing their LGBTQ sponsorships in light of these challenges. Mastercard, a financial services powerhouse, has confirmed it will not renew its platinum-level sponsorship of the city's annual LGBTQ march. Nevertheless, the company stated it would still take part in the June parade and other related events despite the reduction in its sponsorship.
“Mastercard is a longstanding supporter of the many communities of which our employees are members, including the LGBTQIA+ community globally,” a company spokeswoman told the WSJ.
Other firms, such as PepsiCo, Nissan, Citi, and PricewaterhouseCoopers, have also chosen not to renew their corporate sponsorships this year, according to the report. However, many are not pulling back entirely, with some maintaining a presence through branded booths or supporting smaller Pride events.
Nissan's decision was part of a comprehensive review of its marketing and sales expenditures, a company spokesman mentioned to the WSJ. Other Pride events in cities like St. Louis and San Francisco are reportedly facing the loss of significant sponsors, including alcoholic beverage giants Anheuser-Busch InBev and Diageo, although Diageo will continue to sponsor through its Smirnoff brand.
Eve Keller, co-president of the United States Association of Prides, attributed the decline in sponsorship to “multilayered” factors, which include political pressures on diversity, equity, and inclusion initiatives, as well as economic uncertainty linked to recent tariff announcements by former President Donald Trump. Keller informed the Journal that concerns about political backlash have even prompted some companies to ask for the removal of their logos from official Pride materials.
Alterations to NYC Pride's sponsorship packages, which no longer provide access to certain marketing events, have also influenced some companies' decisions not to renew, according to sources familiar with the situation.
A recent Gravity Research survey indicated that nearly 40% of executives plan to decrease their Pride-related activities this year, a significant rise from just 9% in the previous year. The survey highlighted concerns about possible DEI investigations from the federal government as the primary reason for cancellations, along with potential backlash from conservative activists and consumers.
Despite these changes, two-thirds of last year's NYC Pride sponsors have recommitted for 2025, as noted by the WSJ. Target, which faced boycotts last year, is reportedly set to reaffirm its support and return as a platinum sponsor.
Sanya Singh for TROIB News
Major corporations are reassessing their LGBTQ sponsorships in light of these challenges. Mastercard, a financial services powerhouse, has confirmed it will not renew its platinum-level sponsorship of the city's annual LGBTQ march. Nevertheless, the company stated it would still take part in the June parade and other related events despite the reduction in its sponsorship.
“Mastercard is a longstanding supporter of the many communities of which our employees are members, including the LGBTQIA+ community globally,” a company spokeswoman told the WSJ.
Other firms, such as PepsiCo, Nissan, Citi, and PricewaterhouseCoopers, have also chosen not to renew their corporate sponsorships this year, according to the report. However, many are not pulling back entirely, with some maintaining a presence through branded booths or supporting smaller Pride events.
Nissan's decision was part of a comprehensive review of its marketing and sales expenditures, a company spokesman mentioned to the WSJ. Other Pride events in cities like St. Louis and San Francisco are reportedly facing the loss of significant sponsors, including alcoholic beverage giants Anheuser-Busch InBev and Diageo, although Diageo will continue to sponsor through its Smirnoff brand.
Eve Keller, co-president of the United States Association of Prides, attributed the decline in sponsorship to “multilayered” factors, which include political pressures on diversity, equity, and inclusion initiatives, as well as economic uncertainty linked to recent tariff announcements by former President Donald Trump. Keller informed the Journal that concerns about political backlash have even prompted some companies to ask for the removal of their logos from official Pride materials.
Alterations to NYC Pride's sponsorship packages, which no longer provide access to certain marketing events, have also influenced some companies' decisions not to renew, according to sources familiar with the situation.
A recent Gravity Research survey indicated that nearly 40% of executives plan to decrease their Pride-related activities this year, a significant rise from just 9% in the previous year. The survey highlighted concerns about possible DEI investigations from the federal government as the primary reason for cancellations, along with potential backlash from conservative activists and consumers.
Despite these changes, two-thirds of last year's NYC Pride sponsors have recommitted for 2025, as noted by the WSJ. Target, which faced boycotts last year, is reportedly set to reaffirm its support and return as a platinum sponsor.
Sanya Singh for TROIB News
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