Final answer:
Increased budgets for product placements and branded entertainment are due to the changing landscape of advertising and not due to decreased competition. New strategies are needed as traditional media becomes less effective and to counter the dominance of established brands.
Step-by-step explanation:
Budgets for product placements and branded entertainment have increased for several reasons, but decreased competition in the market is not one of them. As technology evolves, traditional advertising channels like television and print media are becoming less effective, leading to innovative advertising strategies. Recording devices and remote controls enable consumers to skip ads, reducing views and impact. Therefore, companies are turning to integrated marketing strategies like product placements to reach their audience.
Furthermore, large advertising budgets often serve to deter new competition in the market. Companies might refrain from entering a market where dominant players like Coca-Cola and Pepsi already spend substantial amounts on promotions. Additionally, the consolidation of new media platforms under large corporations could mean more controlled and focused advertising efforts.