welcome
CNBC

CNBC

Entertainment

Entertainment

Corporate sponsors are backing away from LGBTQ+ Pride organizations

CNBC
Summary
Nutrition label

84% Informative

LGBTQ+ Pride festivals across the country have faced sponsorship challenges this year .

Some organizations say they've had to modify their programming, pivot to other funding sources.

Many companies have cited economic concerns as their impetus to delay or exit partnerships with Pride groups.

But Pride groups also note they're seeing a hostile political climate for diversity, equity and inclusion initiatives.

Pride organizations are reexamining relationships with sponsors that have rolled back DEI policies or visible support for their communities.

Twin Cities Pride dropped Target , which had sponsored its festival for over 15 years , after DEI policy changes announced in January .

Detroit 's Motor City Pride said some community members were spreading misinformation on social media about a sponsor shutting down its health care services.

Pride Northwest executive director Debra Porta said the group is "very intentional" about not overly depending on corporate sponsors for Portland Pride .

Stonewall Columbus executive director Densil Porteous said the Ohio -based group has received increased support from Franklin County .

Local governments have also grown more involved in some festivals.