Mark Eaves, the managing director of Drum PHD, said: "You've already seen closer levels of collaboration between brands and the world of entertainment but, for it to evolve, there needs to be regulatory change."
The IPA said that allowing product placement in UK-originated TV content would mean a "more level playing field for UK programme-makers and (allow) media owners to compete with their counterparts in the US and continental Europe".
Eaves added: "It would be naive to assume that this will cure all the woes of commercial TV, but it is an area (of) extra revenue."
Chris Locke, the trading director at VivaKi, said those opportunities around programming such as Coronation Street would not appeal to all brands.
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