Is any good classical music even being composed today? It seems the world has been without a first-rate classical composer since Igor Stravinsky died in 1971.
I miss Igor...
The best classical style music being produced over the last forty or so years has been for movie soundtracks.
John Williams, Basil Poledouris, James Horner, Jerry Goldsmith, Alan Silvestri, etc.
That is the main and unfortunate reason why classical music is fading - classical compositions worth listening to are museum pieces from centuries past. Most contemporary "classical" music is the sound equivalent of abstract expressionist art: a collection of gimmicks like rolling dice to pick notes or playing the same note or chord over and over again for hundreds of measures.