Kal Reasons
November 2023
LGBTQ+ rights have been a massive hot-button topic for the last several years. When Obergefell v. Hodges was decided on in June 2015, acceptance for queer individuals began to be seen more often in mainstream media. Rainbow capitalism, at its simplest, is the idea of corporations using rainbow logos or posting affirming content while intending on increasing revenue from the target audience of this form of content, the LGBTQ+ community, while ignoring the problematic or discriminatory aspects of their own company. However, there are many factors this issue, including international impact on consumers living in unsafe countries, the continued relevancy of using Pride as a marketable trend in performative manners, and simply being obfuscate about business practices.
Local and national Pride events are often sponsored by major corporations. For example, Proctor and Gamble partnered with IHeartRadio and Jojo Siwa to host the “Can’t Cancel Pride,” special, which was a great representation of major celebrities and small individuals in the community. This fundraiser special raised over $11 million and was streamed and listened to by 19.6 million people, even internationally in places where LGBTQ+ media content is banned entirely. Historically, P&G have positioned themselves as an inclusive, safe environment to work in and purchase their offerings through psychological value and monetary value propositions. They have had limited controversies associated with human rights, except for being a current member of the US Chamber of Commerce and an instance in 2004 where they would not clearly state their support for same-sex marriage. They are more openly supportive now because they find it profitable, so they employ various marketing and branding tactics when needed, including using referents, adapting brand elements slightly, or changing various other parts of the portfolio strategy. In turn, I still believe this is an effective form of rainbow capitalism because of its widespread impact and powerful messaging.
There are often instances where consumers are priced out of pride merchandise, employees facing harassment for working in retailers like Target for the fact that the merch was on display, and independent creators being subjected to the unsavory aspects of rainbow capitalism. Target ultimately had to pull this merchandise, and this was not a positive for the community. Many kids only have access to major retailers or cannot afford independent creations, and as a result, they lose access entirely. When Bud Light partnered with influencer Dylan Mulvaney, the brand faced a severe negative halo for openly defending transgender rights with this collaboration.
For every instance of growth, backtracking in some form or another has been recurrent. However, global purchasing power of the LGBTQ+ community is upwards of $3.7 trillion, so it is incredibly crucial for companies to adapt to the increasing number of diverse people in the world. For this to succeed and not be deemed as performative, corporations must have equitable business practices and an understanding of the social causes they are attempting to represent using their brand. Rainbow capitalism is a subject that has many grey areas; therefore, it is important to continue to examine the impact of rainbow capitalism on a brand on a case-by-case basis.
Sources:
Obergefell v. Hodges :: 576 U.S. ___ (2015) :: Justia US Supreme Court Center
Before You Rain on Rainbow Capitalism - Harvard Political Review (harvardpolitics.com)
P&G | iHeartRadio - Can't Cancel Pride (cantcancelpride.com)
Your Rainbow Logo Doesn’t Make You an Ally (hbr.org)
BE SEEN. BE HEARD. BE PROUD. | P&G (pg.com)
Procter & Gamble | Snopes.com
Procter & Gamble: The Ugly Truth (PG) | Seeking Alpha
PG.TradeAssociation.Dues.2022.pdf (ctfassets.net)
Timeline of LGBTQ+ Representation in Advertising - QuickFrame
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