London Pride Week has been cancelled: How much money will the movement lose?

On March 23, Pride in London cancelled the event to follow government guidelines to protect against the spread of the coronavirus. London has had to say goodbye to its most colourful series of events, shows and parades until 2021.

Image: Teddy Österblom

Amnesty International has joined with UK Black Pride, Stonewall and ParaPride to create Pride Inside (Sunday June 28-Sunday July 5) a full digi-schedule of LGBTQ+ comedians, artists, DJs, musicians and activists; however, the cancellation will cost the gay rights movement a significant amount of money.

The movement had 35 corporate partners in 2019, including Barclays and Tesco. While the involvement of these household names, many of which have dubious track records in LGBTQ+ rights, Pride in London received around £650,000 in sponsorship revenue. As this amounts to around two thirds of its annual income, the cancellation of the celebration puts a serious dent in what the organisation can do.

It may also have a serious knock-on effect for other organisations, such as the LGBT youth homelessness charity, The Albert Kennedy Trust, and Diversity Role Models, a charity that seeks to prevent homophobic and transphobic bullying in UK schools. Every year, London Pride brings these issues to the forefront of people’s minds, reminding people to donate.

It’s not just LGBTQ+ organisations that might suffer this year.

London Pride Parade had 1.5 million attendees in 2019, resulting in increased spending across the city. Shops lining Oxford Street, which is part of the parade route, as well as the bars and clubs of Soho, get involved in the celebrations, and see significant amounts of footfall and increased spending at the same time.

While this is probably the last of those businesses worries right now, many of which are currently closed, missing out on this high-spending period adds salt to their financial wounds.

Furthermore, while rainbow washing has been raised as a serious issue by activists, the financial benefits of raising the rainbow flag cannot be denied.

According to market research firm FocusVision, almost 30% of a sample of consumers shown an advert featuring LGBT+ content felt more positive about the brand, while only a fifth felt more negative and 42% were neutral.

Brands from Ikea to Listerine, Marks & Spencers to Beavertown Brewery have jumped on board, creating specialist lines of products meant to support the movement.

It’s certainly worth debating the effects of rainbow washing; however, regardless of the moral implications of it, major name brands will also bemoan the loss of extra marketing provided by the London Pride Parade.

#FLOdown: In this tough time, don’t forget to support your favourite LGBTQ+ charities. Click here for a list of British LGBT+ initiatives to consider donating to.

Words by Katharine Hidalgo