Wikipedia says The purpose of a branded entertainment program is to give a brand the opportunity to communicate its image to its target audience in an original way, by creating positive links between the brand and the program.
A successful example of branded entertainment is an original property developed by Onesum Agency for the Tampa Bay Rays. An animated team of super heroes “The Defenders of the Game” (DOTG), is an on and offline original branded entertainment platform that featured the franchise and players as animated superheroes defending baseball from the evil Umperor.
Another example of Branded Entertainment is BMW's The Hire which featured a series of eight short films produced specifically for the Internet in 2001 and 2002. "The Hire" featured among other famous actors, Clive Owen as the driver and celebrity directors. These movie shorts were viewed over 100 Million times.This could be a great career path for me to investigate - it's marketing and communications and requires creativity to develop marketing campaign concepts.
Mindshare is one example of a global agency that specializes in branded entertainment.