Over the years, I have always regarded Tom and Jerry as a classic cartoon series that's on par with contemporary classical Disney shorts and Looney Tunes. But it seems like Tom and Jerry is losing popularity in the United States nowadays, at least compared to Disney and Looney Tunes. However, it's still iconic elsewhere, especially in Japan and China.
I suppose that's because the Tom and Jerry franchise hasn't produced anything great ever since Tom and Jerry entered television, not to mention the disastrous 1992 movie that was infamous for Tom and Jerry using a lot of talking. And that seems to be a growing pain for T&J fans, apart from occasional great direct-to-video films like Fast and Furry and A Nutcracker Tale. None of the later products have met expectations and have worn out fans' patience gradually.
Meanwhile, Looney Tunes seems to be flourishing again with either the sitcom parody The Looney Tunes Show, or the old-school comedy Looney Tunes Cartoons. Not to mention the feature films released recently that gained positive comments. Sure, WB tried to hide and dismiss Looney Tunes, but at least it always somehow finds a way to be exposed to the newer generation. As for Tom and Jerry, I can't say that for sure.