The other statement usually made by the monotheistic religions that seem to dislike the idea of other religions and other gods, will often report that the Old Gods are dead, never existed, or are simply not worth revering because they are evil and simply results of devil worship.
Upon researching the web for information about the subject of whether the Old Ones are alive or dead, I came across Hannah M G Shapero's article that answers every single question I have ever asked in regards to the belief and existence of the Old Gods. This small post is actually to promote people to read Hannah's article, where you can believe, disbelieve, or take what you want from it.
It is my belief that the Gods lie dormant until they are awakened. A simple, yet dreamy belief, and also harmless - what seems to worry monotheistic worshippers, positively delights those in more of an open, discovery-based spiritual life, where anything is possible. An Old God, awakened from dormancy, and revered in harmless ceremony is a pagan's right.
'To me, this is the best answer to where the old gods have gone. They are not theatrical spirits, who are only present when there’s an audience to believe in them. Nor are they necessarily Divine Beings with the all-encompassing status of the monotheists’ One True God. They are imaginal beings, who live in this middle world. And the Imaginal World is not a dreamworld dependent on the whims of one person; it is a shared multicultural universe, springing and flowering from the ground of millions of human beings and their minds and their creativity. Once the image, the poem, the character, the myth, the mathematical theorem, the story, the song, the magic, has been created, and has been set down in writing or in a computer file or in any other medium that can be communicated, it has left the confines of one person and entered the Imaginal – or the cultural world.'
Here is Hannah's article, for your full perusal - you may argue her points, or just allow it to be.