If it's something like the upcoming televised Town Hall meetings by BET and a bunch of Viacom stations, then I think absolutely. Otherwise it should be considered a campaign donation in kind. If it's a regular Presidential address like the State of the Union and it isn't overtly political, then I think not. The President is the President and the other party needs to man up and bear it - except when he is campaigning.
If I were making rules I'd say any time less than sixty days before a primary or a general election, the President can be considered to be campaigning.