- Pride Month events have seen a decrease in corporate support from brands like Mastercard and Nissan.
- President Trump's efforts to end DEI initiatives have put pressure on companies' diversity efforts.
- With companies dropping their support of Pride events, organizers are operating at a loss.
This Pride Month, "rainbow capitalism" no longer comes with a pot of gold.
The June celebrations that only a few years ago prompted corporations to display their brightest rainbow logos on social media, LGBTQ+-themed collections in storefronts, and extravagant floats at city parades have seen a decrease in corporate support amid President Donald Trump's crackdown on DEI initiatives.
A number of major brands have scaled back their visible support of high-profile Pride Month events this year, while others are withdrawing their sponsorships entirely, even as their internal values remain the same. Some told Business Insider they are redirecting their support from corporate-sponsored events to more employee-led Pride Month initiatives.
The cutbacks have left some Pride organizations scrambling for ways to cover event costs, and some have scaled down their celebrations.
In New York City, Heritage of Pride, the organizer of official Pride Month events across the city, reported a budget shortfall of $750,000 after a quarter of its corporate sponsors pulled back their funding, The New York Times reported in May.
Here's how 15 brands have changed their approach to Pride events this year.
Bud Light's parent company, Anheuser-Busch, ended its funding of St. Louis' PrideFest.
After 30 years, Bud Light's parent company, Anheuser-Busch, ended its sponsorship of St. Louis' PrideFest, the main Pride Month celebration taking place June 28 and 29 in the city where the company is headquartered, St. Louis Public Radio reported.
Amid the reduced corporate sponsorships, St. Louis' PrideFest will require a $10 entry fee for the first time.
Anheuser-Busch did not respond to Business Insider's request for comment. It has not commented publicly about its decision.
In 2023, Bud Light faced public backlash after partnering with transgender influencer Dylan Mulvaney. The boycott campaign launched by anti-LGBTQ+ groups led to a sharp drop in sales that accounted for over $1 billion in sales for its parent company, Anheuser-Busch, as reported by CNN.
At the time of the boycott, Anheuser-Busch CEO Brendan Whitworth released a statement, saying the company "never intended to be part of a discussion that divides people."
The company has stayed quiet on LGBTQ+ issues since.
Target has scaled down its Pride collection displays since 2023.
Target faced boycotts from anti-LGBTQ+ groups in 2023 and scaled down its displays in response last year.
While the number of products in the Pride collection and stores carrying them is similar to 2024, there have been changes to the displays — Forbes reported that they have been shrunk and "set aside" for Father's Day and Independence Day collections.
When Business Insider's Talia Lakritz visited a Target in Wisconsin to see its Pride collection, she found a small section at the back of the store featuring rainbow-themed clothing and home decor. She found many more items on their website.
"We are absolutely dedicated to fostering inclusivity for everyone — our team members, our guests, our supply partners, and the more than 2,000 communities we're proud to serve," a Target spokesperson wrote in an email to Business Insider ."As we have for many years, we will continue to mark Pride Month by offering an assortment of celebratory products, hosting internal programming to support our incredible team and sponsoring local events in neighborhoods across the country."
The company continues to support New York City Pride, Houston Pride, and Utah Pride, among others.
Clorox also withdrew its support of Toronto Pride.
"Our decisions around sponsorships evolve year to year as we look to make an impact and foster healthy and inclusive communities," a Clorox spokesperson told BI over email
"This year we chose to direct our support to other meaningful initiatives aligned with Pride."
Visa pulled its funding of WorldPride in Washington, DC.
In Washington, DC, WorldPride — which ran from May 17 to June 8 — also saw the withdrawal of corporate sponsors like Visa, as reported by CBS News.
Visa did not respond to Business Insider's request for comment.
While the company still displays a diversity and inclusion page on its website, no public comment or announcement has been made about any LGBTQ+ initiatives for this year.
Deloitte also walked back its funding of WorldPride.
Deloitte also pulled back its sponsorship of WorldPride Washington, DC, The New York Times reported.
Deloitte did not respond to BI's request for comment.
The company still has a page on its website dedicated to LGBTQ+ inclusion, mentioning alliances they're a part of supporting the community. No public announcement has been made about any financial support to Pride Month initiatives this year.
Comcast also pulled its funding of San Francisco Pride and WorldPride in DC.
Last year, Comcast released a press release celebrating Pride Month. This year, the company pulled its funding from San Francisco Pride and WorldPride in Washington, DC, as reported by The New York Times.
Comcast did not respond to BI's request for comment.
The company's Pride Month page from last year is still up on its website, and they have sponsored Denver Pride and Sacramento Pride this year.
Macy's support efforts are similar to last year's, but without public announcements.
Last year, Macy's put out a press release celebrating Pride and sharing its plans, which included running a donation campaign for The Trevor Project (which supports LGBTQ+ youth) and spotlighting LGBTQ+-owned brands.
This year, it is participating in similar ways, including taking part in Pride events across the country and highlighting LGBTQ+ brands, but without a major public announcement, CNN reported.
It did, however, share a video about its Trevor Project campaign on social media, including its YouTube and Instagram profiles, and has been sharing other videos with Pride messaging.
The Gap has also stayed quiet.
Gap has largely stayed quiet this Pride Month, despite having previously championed LGBTQ+ celebrations, as reported by CNN.
Last year, Gap and its subsidiary Old Navy released a campaign celebrating the LGBTQ+ community during Pride Month. This year, its support of Pride initiatives appears to have been scaled down to a social media campaign partnership with Paper Magazine.
Gap did not respond to BI's request for comment.
