Most LGBTQ people believe that corporate Pride support is driven by business interests

Companies that promote Pride do so out of commercial interests. So said 68% of adults who are LGBTQ in a survey by Pew Research. A smaller percentage believe that companies promote the event because they feel pressured (35%) or out of a genuine desire to celebrate people in the community (16%).

Along those lines, the study noted that LGBTQ adults under 30 are the most skeptical about companies promoting Pride out of a genuine desire to celebrate LGBTQ people.

In that age group, 51% said that only a few or no companies support Pride for this reason. This compares with 43% of LGBTQ adults in their 30s, 39% of those in their 40s and 30% of those over 50.

"These views also differ by party. LGBTQ Democrats are more likely than their Republican counterparts to say all or most companies that promote Pride do so because they think it will be good for their business (71% vs. 59%). In turn, LGBTQ Republicans are more likely than LGBTQ Democrats to say these companies feel pressure to express support (43% vs. 34%)," Pew Research explained.

The data comes at a time when large corporations, which previously funded countless Pride events, are no longer willing to continue paying for the party.

A recent Gravity Research survey of 200 companies revealed that there are 39% of companies that have decided to withdraw their support during Pride month, including financial sponsorship, posting messages of support on social media and selling items related to the LGBT agenda.

As another example, this week saw Target backtrack on selling items for Pride month, after, in 2023, the company faced backlash for marketing LGBT products to children.

Also, Forbes recently reported that Anheuser-Busch, the largest U.S. beer producer based in St Louis, MO, ended its sponsorship of Pride in that city.