If a product or a service is placed in the content of the sponsorship-receiver without being directly advertised, it is called Product Placement. The following example helps to distinsguish between the terms: If a beverage-company pays an athlete to place a bottle of their drink in the background of their next video, they do product placement. But if a quick spot with the message "The following video is powered by beverage-company XY" is shown ahead of the video, classic sport advertising is in order.
Besides the sports-industry, product placement is very popular in the movie-industry.