Use the image as an alpha mask. Take this black and white "logo" as an example:

1. Select All and Copy (or Copy Merged if you have multiple layers).

2. Create a new mask with the "New Layer Mask" button in the Layers panel (either on the your logo layer or a group containing your logo if it has multiple layers).

3. Alt+Click the mask thumbnail to edit the mask (your canvas should turn completely white), then paste the image you previously copied. Click the layers thumbnail to finish editing the mask.

4. As you can see, the semi-transparency defined by the various levels of gray are still gray in color too. If that isn't what you want then select all and fill the layer completely with white (or whatever color you want the logo to be).

Your now transparent logo:

Even though you have applied a black to transparent gradient, via the layer effects, to your top layer, I can see that the layer itself is still filled with white.

Set the fill of the top layer to 0%

Another tip for you: Change both colors of your gradient to black, then adjust the opacity. Leaving the gradient as a Black > White one will mean that the colors between the two points are not only black, but varying shades from black to white and therefore not a true black to transparent gradient

Here you can see what you have right now: a white layer with a black > transparent gradient style applied to it. As you can see, the fill color of the layer is still white

You need to decrease the fill of the layer to 0%, which will make the layer transparent, allowing your transparent gradient to work

A simple break-down:

• Fill is the base upon which your layer styles are applied. No matter what styles or effects you add, the fill is still underneath it all. Change this to affect only the fill of the layer and leave your styles intact
• Opacity affects the entire layer (fill and styles). Change this to decrease the opacity of everything on the layer

I'm not sure exactly what problem you're experiencing with your gradient, but you can achieve the black gradient 1 of 2 ways:

1. Create a layer above the background with a white-to-black gradient and blending mode set to "multiply".

2. Create a layer above the background with an all-black fill and a black-to-white gradient on the layer mask.

Both techniques above will yield very similar results. Here is a side-by-side of the 2 techniques over a generic texture:

After you get the gradient the way you like it, you'll may want to adjust it using Filter ⇒ Distort ⇒ Shear (you have to rotate your canvas first) to provide the arc that's present in the image you're replicating.

Edit:

The original has texture because the image you're trying to imitate starts its text much lower in the frame where there is more texture. Your image starts a bit higher where the texture is washed out. Also, I don't know what source image you're working with but it looks like your image was scaled-up. Scaling tends to reduce sharpness.

Here is a 3-up with the original photo, the target effect, and your attempt. The images have been scaled to make the tunnel as close to the same size as possible. Pay attention to the horizontal guides and where your gradient is positioned as opposed to where the other graphic's gradient is positioned.

(click for larger)

Source photo found here: http://dark.pozadia.org/wallpaper/Dark-Tunnel/