Are AdBlocks bad for business?

A few days back some of my friends were discussing how the use of AdBlock has taken away chunks of revenue from advertising companies. While it may sound like 1+1=2 here, I beg to disagree.

While the common notion is that less advertisements leads to less revenue, we often tend to forget that the people who actually use AdBlock are those who are fed up of the consistent advertisements that show up in almost every website today. These people are anyways not going to click on those ads.

Now when they install AdBlock, advertisers are saved from spending money on showing ads to people who definitely are not interested in their product. Thus in the long run, they are in fact saving some money!