This Pride Month (June 2025) arrived without the usual confetti of rainbow logos. In years past, entire downtown blocks shimmered with branded banners: tech companies, banks, telcos, and retail giants racing to display their commitment to 2SLGBTQI+ inclusion—at least for thirty days. But this year, a wave of conspicuous silence swept through Canadian corporate corridors. Where did the rainbows go?

According to Artefact91’s review of the top 100 Canadian corporations by revenue (based on the 2024 Financial Post 500 list), only 19 companies publicly acknowledged Pride 2025—through logo changes, statements, or campaigns. That’s a 46% drop compared to Pride 2023, and a 62% decline from the peak corporate Pride visibility in 2021.

The pattern wasn’t limited to logos. Of the 100 companies reviewed:

• Only 12 issued any form of Pride-related statement (internal or external).

• Only 7 announced donations or partnerships with queer organizations.

• Only 3 launched Pride-specific campaigns centering 2SLGBTQI+ communities.

Instead, many corporations adopted what internal comms professionals called "neutral posture." Branding remained unchanged. Social channels were silent. Even companies with longstanding diversity teams or ERGs (Employee Resource Groups) chose internal-only observances or skipped them entirely.

Behind the Silence: Corporate Statements Under Scrutiny

Sources inside several major Canadian firms—including a Big 5 bank and two national grocery chains—spoke on condition of anonymity. They described internal debates about “PR risk,” citing the U.S.-based boycotts of brands like Target, Disney, and Bud Light in 2023–2024 as cautionary tales.

“There’s fear now. Pride used to be seen as safe. Now it’s seen as polarizing,” said one employee at a Toronto-based retail giant.

At the same time, marketing professionals describe a strategic pivot: brands are moving from public solidarity to “values-aligned partnerships,” often private or invite-only. But critics argue that this shift abandons the visibility and amplification Pride Month has historically provided.

Impact on the Ground: Funding Gaps and Community Fatigue

The retreat has real consequences. Queer organizations across Canada reported a drop in corporate sponsorships this Pride season, with some community events forced to scale back or cancel.

The silence is deafening,” said a member of a grassroots trans rights collective in Montreal. “We don’t want rainbow capitalism—but we do rely on those dollars to keep the lights on.

Looking Ahead: Performative Allyship, or Permanent Pullback?

	What’s unfolding isn’t just a PR trend. It’s a broader realignment of corporate priorities in the face of backlash. But it raises a difficult question: if companies only show up when it’s easy, were they ever really allies? For Pride 2025, the rainbow was not a badge—it was a litmus test. And many brands failed it.

Corporate Pride Engagement (2021–2025)