I think some of the generalisations in this thread are unfortunate. There's such a wealth of great art being made today - from books to films to music to TV to video games to any other manner of mediums - that I can't imagine dismissing any of them. It feels... strange to have to defend my love of fiction in all its shapes and forms, but nothing at all impresses me more than a great artist's ability to hook me with their creation.
I tend to stick with contemporary literature at the moment, but in recent years have been working my way through the back catalogues of David Mitchell, Jonathan Franzen, Haruki Murakami, Cormac McCarthy, David Foster Wallace, Kurt Vonnegut and others (as well as the odd one off discovery). All of these writers have engrossed me with their literary skills: their abilities to craft convincing worlds and characters out of words and imagination. Murakami's books transport you to surreal, intense alternate realities that have a profound emotional impact that's almost impossible to describe. Mitchell's expertise with historical settings and unusual narratives brings his settings alive in vivid, exhilirating detail (I was pretty much in a constant state of 'swoon' reading the Thousand Autumns of Jacob de Zoet). Franzen's ability to probe into the dynamics of contemporary society resonate deeply while never forgetting to provide a good laugh. I could go on and bore you with further hyperbole, but it's late and I'm feeling generous From the populist to the obtuse, these writers and many others have provided endlessly rewarding experiences for me.
It always saddens me to see people claim 'originality is dead' or 'everything is formulaic and/or crap'. No: talented people are still telling vital, compelling stories. Film is consistently producing a plethora of amazing works - from A Separation to Himizu to Margaret to, heck, Cabin in the Woods. What's so depressing is so many do not get beyond specialist theatres or small DVD releases while the multiplexes are happy to fill screens with nonsense. It's the same with books - a quick glance at a bestsellers list can instill a sense of frustration and dread, but head over to the A-Z section and you're frankly spoiled for choice. The biggest problem with trying to consume the best books or films is trying to keep track of all these wonderful works, and - more distressingly - trying to find the time to experience as much as one possibly can.
Yes, reading isn't for all, and independent and world cinema might turn people off. But just beyond the mainstream (and sometimes smack bang in the middle of it), there's a wealth of accessible, beautifully realised works. It seems such a shame to me personally to cut oneself off from these experiences, or even cut oneself off from all but one or two genres. Humanity continues to create great art, great fiction and great entertainment, as it always has done (haven't even gotten started on classics) - I personally think we should all try our hardest to embrace it.