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This is indeed a wonderful idea - if it's done the right way and doesn't end with some clumsy commercial (like it happened to some bloggers, e.g. with a shaving-kit--ad). I really love the take on this. It's a little like indoor-geocaching. For so many years media professionals talked about interaction. This finally is real interaction, it's participating in a story instead of switching view angles on the remote or clicking buttons on a website.
The marketing industry for years now has been accused of utter lack of creativity - and for the most part, the accusation was justified. Transmedia to me seems to be a wonderful playground for truly creative people - and only for those.
I also love your example of the Blair Witch Project. Instead of jealously safeguarding so-called intellectual property (which it not alway is) with laws and lawyers, some of the most successful marketing approaches basically asked the audience to be a part of the creative process. Record companies sue people for singing their artist's songs in a supermarket, while some artists (like Terra Naomi) publish videos on how to play their songs yourself and publish cover versions on their own website. It's a new world and it's high time that the marketing industry finally catches up.
Okay, this got a little longer than expected ;)
Great post by Alicia Kan on a 10 minute transmedia experience at SXSW & further thoughts on transmedia
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