I haven't yet seen all of Barak Obama's thirty minute advertorial from last night (which I can't seem to find anywhere online, including the campaign's YouTube site, but, I suspect if it has any impact at all on the Presidential campaign, will have a profound effect on mainstream television and may tempt other 'brands' into longer form advertising.
For many years I have been involved in buying airtime on reasonably mainstream channels - or given content away in return for airtime - for minority sports events, so that the sponsors of these events can get coverage. Now, it may well be the turn of sleeping giants like Procter & Gamble, who are already heavily involved in TV production, to turn their hands to this technique.
Also, it is high time that advertising agencies built closer links with TV production companies; I suspect that somewhere in the depths of their Farm St HQ, WPP are already looking at their options.
It's going to become increasingly difficult to differentiate content from advertising on TV in the future.