BMW pulls out of branded entertainment

This is one of those news that can really change the life of an agency: BMW has decided to end its branded entertainment strategy. They have been the pioneers in the sector, with the online short-film The Hire, starting a new era for online marketing. Now AdAge reports BMW decided branded entertainment was getting too expensive, but their shift can’t only be blamed on money. They declined to comment, but probably the change is also due to the fact they are still looking for a new advertising agency to handle its US account.
What will happen now? Will other brands follow their move? How many agencies will have to change their business approach?