Ignoring racism and homophobia isn't the right way to deal with it. We've tried that for a while and it hasn't worked.
Better solution to me seems to brand his guy as the homophobe he is. Raise awareness so that people stop buying his music or going to their shows. Don't give them interviews or positive press. If society ignores with things like this happen, they'll continue to happen. If society puts their foot down and says "no" and makes it a decidedly Bad Move for people to say stuff like that, maybe they'll finally stop.