Pride parades and festivals are coping with a broad pullback in corporate sponsorship dollars amid shrunken DEI budgets and political pressure.
Some organizations are taking a step back on Pride marketing this year, while others are focusing within the LGBTQ community.
Gentrification appears to have sparked a new development in LGBTQ+ communities.
After a period in which companies tried to stand out with progressive messages, experts see brands proceeding with caution this year.
According to research, when it comes to LGBT rights, “being a little bit more legally inclusive was worth roughly $2,000 in GDP per capita,” said economics professor Lee Badgett.
Target and Bud Light bowed to pressure for supporting LGBTQ people, but now many of those shoppers may take their money elsewhere.
The bill’s vague language is making drag queens, businesses and festivals apprehensive about future performances.
Evie Smith Hatmaker, founder and CEO of the PR firm Rebellious, on the importance of supporting LGBTQ-owned businesses.
“Previously, it was about profit,” says marketing specialist Andrew Isen. He believes that’s changed.
What started as niche marketing by a handful of companies has turned into a rainbow-ified corporate logo competition.
