Companies are spending on Pride again—but not like they used to

Corporate America is demonstrating a renewed interest in supporting LGBTQ+ workers during Pride month, with several major companies increasing their sponsorships and participation in Pride events. Mastercard, a former major sponsor of the NYC Pride March, is reportedly increasing its spending and funding approximately one hundred employees to attend Pride events. Target, after significantly reducing its Pride merchandise collection and visibility in 2023, has returned as a platinum sponsor for NYC Pride. This resurgence in corporate engagement is noted by Pride organizers, who have reported an increase in investment from the business community. The organization behind the NYC Pride March has secured nearly a dozen more sponsors this year compared to 2023, a significant shift from the previous year when they faced a funding deficit of $750,000 due to the withdrawal of top-tier sponsors. In 2023, organizers nationwide experienced budget challenges as donors decreased their contributions, with some companies providing funding anonymously. This trend contrasts with a period where many companies, including Walmart and McDonald's, withdrew from the Human Rights Campaign’s Corporate Equality Index, and 39% of companies surveyed by Gravity Research indicated an intention to reduce Pride engagements in 2025. Despite the current uptick, overall corporate spending on Pride initiatives has not returned to previous levels.