The charity said Newcastle Pride faced rising operation costs, reduced sponsorship income, and a change to national guidance around event safety and security, which had resulted in the event being more expensive to organise.
This year’s event takes place on 25 and 26 July, and will include live entertainment, community activities, markets and a march through the city centre.
It will include performances from pop star and former Girls Aloud singer Nadine Coyle, drag acts Danny Beard and Bimini, and 90s pop-dance group Urban Cookie Collective.