Don't mind ads.
Just don't interfere with the game.
E.g. in GTA V - feel free to sell the billboard space, and even radio ad space. Same in movies - Bladerunner can advertise whatever it likes, as an advertisement itself within the movie world.
But don't make it so that I have to listen to / watch it. That's game over.
And don't make it like "I, Robot" with the Nike/whatever shoes - where I just cringe at the blatant and unapologetic product placement for no reason whatsoever.
Racing and football games have often had ads on the billboards around the arenas. Fine.
As people say, things like Robocod had sponsorship from Penguin. Fine. There were levels of penguins (not unlike any other level in the game) where the penguin bars were part of the scenery. No problem. If you don't know what a penguin bar is, you wouldn't even notice.
But make me sit through an interstitial, break through the fourth wall with it, or make it so horrendously blatant - IN A PRODUCT I'VE ALREADY PAID FOR - and I'll not touch it.
Hey, Amazon. How about NOT giving me a trailer for something I couldn't care less about every time I open the Amazon Prime Instant Video app on my phone - a service that I already pay you for? A Skip button is not the same as just NOT showing me that junk by default. In fact, a Skip button is like an "opt-out" button on a piece of spam, as far as I'm concerned. I shouldn't have to opt-out, as I never opted in to the damn email in the first place.