The New York Times article regarding the announcement that the American Symphony Orchestra (longtime presenters of unpopular music of the symphonic world) will be shortening it upcoming season, quotes an earlier essay from music director Leon Botstein that hits the nail on the head regarding the supposed demise of "classical music":
“The challenge facing classical music today is not a depletion of audience or potential audience, or the aging of the audience,” he wrote. “The real problem is that the very wealthy no longer consider it their civic responsibility to contribute to the traditions of the symphony orchestra. Their attentions have turned elsewhere.”
Needless to say, this hardly the only, nor even, I'll admit, the most important area where our monied class is letting our society and culture down. There are many arguments out there on this subject and I don't intend on solving them here.