This article by Daniel Newman @danielnewmanUV made me think differently about the relationship between brands and content.
The example he cites of Red Bull is well chosen. We do associate them with extreme sports and they are a media company. Indeed the more you think about it, the more you realise that Red Bull is arguably a media company first and a fizzy drinks distributor second.
However, everyday organisations can already monetise this trend by bringing their point of view on aggregated content using tools like this one.
So it may be that Daniel's "branded media company" will arrive very soon indeed.
For many brands the idea of being able to spend infinitely to build owned communities just isn't feasible. We all have constraints and our budgets, resources and capabilities all vary, but the idea of the branded media company says something about what the future of marketing and advertising will look like. It will be very different.