Huge brands withdraw from LGBTQ parades
(MENAFN) Several major companies are reducing their sponsorship of New York City Pride events in 2025, according to The Wall Street Journal, as political pressures and financial concerns prompt a broader re-evaluation of LGBTQ-related marketing.
Mastercard has decided not to renew its top-tier platinum sponsorship but will still take part in the June parade and related activities. The company reaffirmed its global support for the LGBTQIA+ community through employee engagement.
Other major sponsors—PepsiCo, Nissan, Citi, and PricewaterhouseCoopers—have also opted out of renewing corporate sponsorships this year. However, many are not pulling out entirely and continue to support Pride through smaller events or branded booths.
Nissan attributed its decision to a general review of marketing expenditures. Pride events in other cities, including San Francisco and St. Louis, are experiencing similar losses, with key backers like Anheuser-Busch InBev and Diageo stepping back. Diageo will maintain a presence through its Smirnoff brand.
Eve Keller, co-president of the United States Association of Prides, cited a combination of factors behind the corporate pullback, including political scrutiny of DEI (diversity, equity, and inclusion) programs and economic uncertainty tied to President Trump’s recent tariff policies. Some companies have reportedly asked organizers to remove their logos from official materials to avoid political backlash.
In addition, changes to NYC Pride’s sponsor packages—such as removing access to exclusive marketing events—have played a role in the decisions, according to those familiar with the matter.
A Gravity Research survey revealed that 40% of corporate executives intend to scale back their Pride-related involvement this year, up from just 9% last year. Top concerns include potential federal investigations into DEI programs and criticism from conservative groups or customers.
Despite the challenges, about two-thirds of last year’s NYC Pride sponsors have recommitted for 2025. Notably, Target—despite facing boycotts in 2024—is returning as a platinum sponsor.
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