This article analyzes how a neoliberal understanding of identity shapes gay subjectivity, body, affect, and intimacy in digital environments, particularly Instagram. This social media has become one of the most relevant elements of gay subculture in Western countries, including Spain. Neoliberalism usually reduces gayness to a sort of global marketable brand which is understood as an individual attribute rather than a collective identity that provides common ground to fight for LGBT rights and against homophobia. Drawing on previous research on online self-representation and gay subjectivity, we specifically explore this global pattern in Spanish gay users of Instagram. To this end, we examine posts containing the tag #gaySpain uploaded between April and May 2020. In general, our research shows that the profiles tend to provide narratives of successful personal self-engineering and self-promotion, rather than activism and collective empowerment. These narratives present the gay body as a commercial product or something to be admired and consumed, whilst affect is part of an online highly ritualized performance and communication, and by no means a force for social change. As part of self-representation in social media, intimacy is constructed on Instagram for a large audience as an attractive example of a thriving gay life; in simple terms, Instagram has become gay show business like other manifestations of this subculture such as the Pride march.