If you’ve noticed fewer rainbow logos decorating social media this month than in Junes past, you’re not imagining it: some corporations have rolled back their public support of Pride following President Donald Trump’s executive order to end diversity, equity and inclusion (DEI) programs within the government.A Gravity Research poll of corporate executives reveals 39% of companies plan to decrease their engagement with Pride-related engagements, including leaders in the Fortune 500 and Global 1000. And Pride festivals are feeling the impact.NYC Pride is facing a deficit of $750,000, roughly 25% of the event’s overall budget, according to Heritage of Pride, the nonprofit that runs the city’s Pride festivities. As a result, NYC Pride will have fewer floats, vendors, and performers, the organization said, and will not be able to provide its usual level of year-round programming and financial support to LGBTQIA+ nonprofits.In recent years, it has become expected to see brand names spattered throughout Pride-related festivities: event stages boast corporate names, storefronts on parade routes are adorned with rainbows and employee resource groups — oftentimes but not always financially supported by their business — march with branded t-shirts behind corporate banners.Critics have accused many of these companies of engaging in rainbow capitalism, or using Pride Month as a marketing strategy rather than actually supporting LGBTQ issues and causes, and have said that Pride has become more of a party than a protest.When did Pride Month become so corporate? Businesses began using Pride as a marketing technique as early as the 1990s, but logos began multiplying at Pride festivals in the 2010s. Once the Supreme Court ruled that same-sex couples have the fundamental right to marry, corporate involvement in Pride reached an all-time high. Take a look back through the decades to see how brands have become a ubiquitous part of Pride Month.A vintage, double-decker open-top bus advertising American Airlines rides down Fifth Avenue in New York City, New York during the NYC Pride March on June 25, 1995. Though Pride started as a protest during the 1969 Stonewall uprising, in the 1990s, corporations began participating in and sponsoring the annual celebrations.Stuart Lutz—Gado/Getty ImagesApple employees carry rainbow flags as they march in the San Francisco Gay Pride Festival in California on June 29, 2014. Apple’s turnout for the 2014 parade was largest in the company’s history, several Apple employees told Reuters.Noah Berger—REUTERS(From left to right) NYC Pride March Grand Marshals, Sir Derek Jacobi, Kasha Jacqueline Nabagesera and Sir Ian McKellen speak at a press conference before the march on June 28, 2015 in New York City. A tarp featuring many of the parade’s corporate sponsors works as a background for the press conference.Neilson Barnard—Getty ImagesWalmart employees carry a huge rainbow flag during the Pride march in New York on June 28, 2015. In 2024, Walmart joined the growing list of corporations scaling back their diversity, equity and inclusion initiatives.JEWEL SAMAD—AFP/Getty ImagesMusician Steve Grand performs at New York City Pride on June 26, 2015. An advertisement for TD Bank provides a backdrop to his performance, highlighting the increased presence of corporate sponsorships in the early 2010s.Rommel Demano—Getty ImagesPeople from the Disney Company march in the 48th annual LA Pride Parade on June 10, 2018, in the Hollywood section of Los Angeles and West Hollywood, California. Since the early 2010s, many companies have allowed employee resource groups to march in Pride parades under their company’s name.David McNew—Getty ImagesPeople gather around MAC stage at LA Pride on June 7, 2019, in West Hollywood, California. Some corporate sponsors get their brands’ names on stages or otherwise incorporate into festival decorations.Rodin Eckenroth—WireImage/Getty ImagesFans pose for a photo in front of a #TakePride statue at Target Field in Minneapolis, Minnesota on July 15, 2022. In 2024, Target said it would no longer sell its Pride Month collection in all of its stores following backlash.David Berding—Getty ImagesThis story was originally featured on Fortune.com