You can't -- yet -- adblock television, but Neflix works for now.
December, two years ago, I ditched broadcast TV in favor of Netflix and what I could find online (mostly Hulu). A couple of months later, I caught my young children watching this cool new show they just found on Netflix: Voltron. It brought back memories, so I say down and watched it with them. At one point, the screen darkened. It's the spot where a commercial could've gone, but the video just faded back in and picked up where there story left off. It hit me, there aren't any ads in Netflix shows.
Over the next several months I realized that my children asked less often for toys and other consumer items. Now, a year and a half after switching Netflix, my children only ask for stuff less than a quarter of what they used to do. And what they do ask for are stuff like video games, slingshots, and skateboards.
I realized that cutting them off from the constant bombardment of "Buy! Buy! Buy!" of commercials -- that use psychological tricks -- has short circuited their indoctrination into the cult of consumerism.
Taking commercials out of their lives in one of the best things I've ever done for them (in additional to attentive parenting). I recommend you other parents do the same.