User controlled ad experience:

-Users run their own ads to build up an "ad immunity" duration for their current account.
-This ad immunity duration will allow the user to view streams without encountering preroll/midroll/other ads for this period.
-Longer the ads watched the longer the ad free duration.
-Can have an upper limit of ad free viewing time, requiring additional ad viewing to top off the duration.
-Users can choose who gets the ad revenue share, depending on where they trigger the ads to view. Either with a channel they want to support, or give the share to Twitch. Use button prompt to choose revenue split and keep user engaged with the ads.

Ad Gamification:
Give users more incentive to run ads themselves via daily/weekly/monthly goals to work towards.
+Rewards can include but not limited to:
-bits
-exclusive emotes
-exclusive temporary emote edit options
-exclusive badges

Example,
Ads season pass goal can include:
-Watch ten 30 seconds ads: rewards X bits
-Shared ad revenue with X amount of channels: thumbs up emote edit option for 24 hours
-Viewed one hundred 30 seconds ads: 1 random ad emote
-Viewed one thousand 30 seconds or longer ads: tier 1 ads badge

The main idea is to allow users to run ads on their own time, and give themselves an uninterrupted time to visit Twitch and view familiar or new content creators. Users understand the importance of advertising, but they do not have any control over how that is presented to them (currently being slammed with ads with every visit/refresh).
Give users the control for ads, allow them to customize their ad experience, and even personalized ad preferences so they're more open to the idea of the product/services being shown.

Let the ads be a positive experience for everyone, Twitch users understand games, let this be fun and profitable at the same time.