For brands, it is open to question whether placement can become a meaningful slice of the marketing mix, but there are compelling reasons why it should.
TV shows have become some of the most-smartly marketed properties worldwide: witness the buzz around the launch of Sky Atlantic HD and its flagship show, Boardwalk Empire. What self-respecting brand wouldn't want to associate itself with such water-cooler moments?
Then there is the growth of viewing on demand, which guarantees a much longer shelf-life for a subtle brand message embedded in a TV show.
There is, however, a danger here - contrived placement, which simply looks crass. US teen drama series 90210's flagrant showcasing of soft drink Dr Pepper, for example, has become a case study in gratuitous product placement.
It doesn't have to be like this, as Hollywood has shown. Take the 2009 movie Up in the Air, starring the ever-watchable George Clooney, but also American Airlines (AA) and Hilton Hotels.
This was a prime example of how brands can work with entertainment creators to mutual benefit. It presented a natural fit between brand and content producer, with AA and Hilton providing an authentic backdrop to the film's plotline, charting the peripatetic lifestyle of Clooney's character.
Interestingly, no money changed hands between Hilton, AA and the film's studio, Paramount: the deals were barters for services provided. Such arrangements hint that a liberated placement regime will generate little financial benefit to programme-makers.
As for brand-owners, that's another matter. Placement may start with a bit part, but don't be surprised if it becomes a hero by the final frames.
Noelle.McElhatton@haymarket.com