In today's society more and more people are turning to mainstream, popular top 40 style music, which is causing a decrease in popularity for rock/metal bands. This is especially terrible when you consider the fact that many of the bands today have reached success without having the talent and experience that they should have to achieve their status and without having nearly as much talent as some of the rock/metal artists out there who are less popular.
I personally think that one of the main reason that metals is losing its popularity due to the fact there is some much elitism going on in the fanbase. Nowadays, the metal/hard rock community seems to have a lot of narrow-minded people who will stop at nothing to bash a band or group they believe to be sh!Tty. What happened to just not listening to the band you hate, and moving on?
Side note: Thank the Dude and A7X lead singer M Shadows who inspired me to make this question.
I would suggest that Rock/Metal is still making money, as there are plenty of decent bands touring and producing records. However, I think the reason that it has faded from the limelight is because there are so many variations of music these days. Not only that, but there are so many bands that have reached success without having the talent and experience that they should have. Therefore, the majority of newer music is perceived to be subpar against some older music. This sort of draws battle lines between music fans. Oldies hate new music and vise versa. Rap hates rock and vise versa. And the trend permeates the industry, creating tension between musicians. So I don't think rock/metal is getting the short end of the stick per say, but music is definitely getting more competitive for fan bases.