The nonprofit managing New York City Pride reported a drastic reduction in corporate donations, with about 25% of sponsors cutting back or withdrawing support, leading to a $750,000 funding shortfall as the event approaches. Some companies cited economic uncertainties related to tariffs, while others feared political repercussions for supporting LGBTQ+ initiatives. This trend is evident nationwide, highlighting a climate of caution among brands that previously championed diversity, equity, and inclusion (DEI). Experts stress the importance of genuine support from companies that truly value LGBTQ+ communities during these challenging times.
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.
Joanna Schwartz, a professor with a specialty in LGBTQ+ marketing, notes that the current political climate has made companies especially fearful of the backlash that might come with supporting the queer community.
Despite the increased number of partners supporting NYC Pride this year, the overall investment from corporate sponsors has taken a drastic hit.
Schwartz encourages companies that truly value LGBTQ+ support to stand firm and not capitulate in the face of political pressures.
#corporate-sponsorship #lgbtq-support #new-york-city-pride #diversity-and-inclusion #political-climate
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