Rich media is a general term for the advanced technologies used in modern websites and online adverts, such as flash animation, streaming video, applets that allow user interaction, and special effects.
The interactive nature is specifically popular and used for reaching and engaging consumers in banner adverts.
Expandable banner ads are widely accepted as the most popular rich media advertising format. They start with a standard size banner ad, usually built in Flash, and expand on mouse over to reveal any number of larger panels. Panels can contain interactive Flash elements and video.