Horror has had a great last couple of years when it comes to box office. This is mostly due to the fact that horror is so cheap to make, which means that it has a higher probability of turning a profit. Films such as "Get Out," "Don't Breathe," "It(2017)," "Split," and now "A Quite Place." don't make the billions that other blockbusters do, but they are capable of making massive profits off of a smaller box office making them an example of low risk/high reward.
While horror is having somewhat of a renaissance at the box office, I've noticed that there are some prominent figures missing in recent times. Classic monsters such as werewolves, vampires, trolls, Frankenstein and swamp creatures aren't exactly as common as they used to be. Usually when I see those monsters in films now, it is usually outside of the horror genre, such as the "Hotel Transylvania" films (animated family film) or things like "The Mummy" or "Dracula Untold" (action/blockbuster).
I have several theories as to why this is, but here are just a few. First, these are monsters that have been in our art, entertainment and folklore for centuries. These are creatures that we recognize, even when we are young. It would make sense that these creatures that have been so common and recognizable for centuries, feel stale and slightly played out (for example: are people sick of zombies yet? We've had way too many zombie movies.).
That's why when we see these creatures in film today, it's outside of the horror context. Putting these creatures in entirely different genres is an attempt to make them feel relevant and "new" in this day and age while the horror genre is being populated by more modern concepts. Which brings me to my second point, what constitutes horror in these days has changed dramatically.
Modern day horror focuses on psychological fears and societal paranoia that we all have and can relate to. "Get Out" plays on human paranoia based on race relations. "It(2017)," while having a physical monster in the form of Pennywise, is more about the fears of powerlessness and not being taken seriously by adults that almost every child has had in their lives. People these days are more terrified of psychological horror concepts and social paranoia because they feel more relevant and meaningful than monster that we've seen a dozen times.
Does that mean that the classic monster just don't have a place in modern horror? Heck no. I would love to see a horror film explore, say, the societal taboos that come with being a werewolf. Many would see it as a curse, but a part of them would also see it as a chance to experience their pure animal nature outside of the societal and cultural expectations (such as a lack of humiliation with being naked and hairy, and also indulging in natural instinctual drives toward mating without shame).
This is just one idea that I have rattling around in my brain, but it shows that these monsters still have the potential. I love these classic monsters way too much and I want to see them become relevant and truly terrifying again. However, if these monsters wish to make us wet our pants, they have to change and reinvent themselves in order to become truly horrifying to this new generation of horror fans.