If I'm correct you only gain money from advertising when the user clicks on an ad. If the user does not click (and you could argue that people who install adblockers will not) than no money was lost.

The entire debate around copyright and online monetisation is trapped in "entitlement" of publishers in the METHOD of extracting value. Have you ever considered that maybe it's not that people don't want to support you financially, but that you're methods are wrong?

So maybe subscriptions don't work, but let's take pirates as an example. Multiple studies have proven that pirates spend more money on the things they pirate than non-pirates. So in actuality piratisation is increasing the amount of money publishers are making since the act of piracy it self actually represents no cost to the publisher.