It exists because the media blows every little gay comment out of proportion, and looks to create controversy to create sales.
It exists because when a coloured athlete doesn't get the respect or deal they deserve, they claim it's a colour thing and it's discussed until the topic has had the shit beaten out of it.
It exists because countries are getting tired of having people migrate, and take away all the job opportunities and seek to have a better life to escape the oppressions of their awful homelands, but end up bringing their baggage along for the ride anyway refusing to conform by learning the required language to get by, refusing to accept the required rights that are necessary to exist in their community, and expect everyone else to oblige their needs and beliefs; when people don't they cause a shit show, and call everyone else the racist.
Having the government pension plan increase the age limit for natives of a country, and lowering the "bar" for immigrants is ridiculously unfair, and having the government distribute beneficial wages to corporations by hiring more minorities, and less of the alternative make people pissed off.....
Racism still exists when an african american, or any minority from a different culture calls a caucasian a cracker whether its through media or entertainment, usually gets a "pass" or a round of applause, when the situation is vice versa, they are dubbed a racist and accused of a hate crime.
Prejudice still exists When women want to be treated equally, they protest until their demands are recognized, such as incorporating women into an all-male environment, yet for example, when an "all women gym is created without the allowing of male members.....it's considered okay. The justification? Because women may be too intimidated by all the male members at all-welcoming gender gyms, yet do they not consider an overly obese man may face the same issues an intimidated woman might feel? But it's okay right, because he's a "man"......If an all male gym was created (no homo) you can believe it'd be mangled by the media for not allowing women.....
There are many other considerations to take into account, but these are just a handful.