Mastercard, Nissan, PepsiCo, and Citi will not sponsor the 2025 New York City Pride March.

According to a report from The Wall Street Journal on Tuesday, Mastercard is not renewing its sponsorship of the NYC Pride March this year, but still plans to participate in the event. The financial services giant has previously served as a “platinum,” or high-level, parade sponsor, as well as the March’s go-to payment partner for the past few years. 

Mastercard has supported Heritage of Pride, the nonprofit organization that organizes the NYC March and other LGBTQ events, for more than a decade, according to The Journal.

Mastercard declined to comment on the record about its participation in the NYC Pride March. PepsiCo did not respond to request for comment in time for publication.

Citi confirmed to ADWEEK it is also not sponsoring the NYC event, but plans to march and show up in other ways. The company’s Citi Pride Inclusion Network, which comprises Citi employees who lead Pride efforts in various chapters around the country, will sponsor “a range of Pride Month celebrations and [participate] in local parades around the globe,” per a brand spokesperson.

“Our New York Pride chapter is finalizing plans to march in the NYC Pride parade with one of our partner organizations, and we look forward to the event,” said the brand.

For Nissan, the decision to “not sponsor any Pride parades” was made as the brand evaluates its marketing and sales budget for the year.

“We are currently reviewing all marketing and sales spending, including auto shows, sports properties, and other entertainment activations, to maximize both efficiency and breakthrough effectiveness,” a spokesperson confirmed to ADWEEK.

On the other hand, Target, which pulled some of its Pride merch in 2023 due to backlash, confirmed to ADWEEK that it “is sponsoring NYC pride this year and local Pride events around the country.”

The news comes three months after President Donald Trump signed an executive order to “end radical and wasteful government DEI programs and preferencing.”

According to Gravity Research’s Pride Pulse Poll, 39% of companies that participated said they are scaling back Pride engagements in 2025, while 61% said pressure from the Trump administration is driving them to reevaluate their Pride investment and involvement.