Multinational companies are pulling back from sponsoring the UK's biggest pride festivals, the organizers reported a significant decline in corporate funding amid growing global backlash against diversity, equity and inclusion (DII) policies – especially in the United States under Trump Administration.
Despite high-profile participation in recent years, brands such as Sony, Rekit Bencizer, Costa Coffee, Deloite, and Skycanner do not renew their support for leading UK Pride events this year.
Proud in London, the UK's leading program, has seen sponsorship by Sony's PlayStation Brand and the retit durex has been quietly dropped, while Coca-Cola-owned Costa, Briton and How Pride, has not returned as sponsors, which is one of the most festivals in the UK.
In 2023, BMW, sponsors of both London and Briton Pride, have shifted their support to the classical pride, a small LGBTQ+ classical music festival this year. In particular, the car manufacturer has also not updated its social media branding for pride chandelis, as was done in the previous years.
Similar trends have emerged in Scotland, where Deloite and Skycasher – Edinburgh Pride's previous backbacks – are absent from this year's list of sponsors.
According to data from the Network of UK Pride organizers, three-fourth of proud organizers across the country reported a decline in corporate partnership in 2024. One in four states that their sponsorship revenue has declined by more than 50 percent.
Pulback comes in a politically sensitive moment. President Donald Trump has launched a full -scale attack on the DEI initiative, signing an executive order earlier this year, saying what he called “illegal dei” policies in federal programs. The move has carved conservative MPs across the United States, such as uta passing laws such as LGBTQ+ flags from government buildings and schools.
While Trump has not yet released a proclamation pride month – as the President Joe Biden had done during his presidential post – there are reports that his administration could change the name of a naval ship who honored Harvey Milk, which was first chosen openly for the office in California.
Although the political wave is the most intense in the US, it affects corporate decision making globally. UK-based multinational companies, including important American operations including HSBC and advertising giant WPP, have also taken a more cautious approach to the visibility of pride this year.
Analysts suggest that many brands are re -assuring the prestigious risk of polarized cultural debate and targeted backlash to engage in LGBTQ+ advocacy. Others argue that this return avoids risks that separate young and more progressive consumer bases.
This trend in the US has been made even more clear, where New York City Pride has seen a wave of the world's biggest pride festival, corporate bridge-out. MasterCard, PepsiCo, Nissan, City, and PWC have either scored back or abolished their sponsorship, which contributes to a 25 percent decline in overall corporate banking.
While the organizers admit that some brands are committed to LGBTQ+ inclusion, they warn that without continuous support, events of pride can struggle to maintain their scale, access and community impact.
As a pride chain comes out, the tension between corporate alliance and political risk is becoming increasingly clear – many people to question what the true commitment for equality in 2024 shows.
Jamie young
Jamie is a senior reporter in Business Matters, who is bringing more than a decade experience in UK SME business reporting. Jamie holds a degree in business administration and regularly participates in industry conferences and workshops. When not reporting the latest commercial developments, Jamie has emotional about advising journalists and entrepreneurs to motivate the next generation business leaders.
