Multimedia involves incorporating text, graphics, sound, animation and video into an interactive computer-based experience. It allows for a vicarious learning experience through simultaneous presentation of different media rather than sequential. Multimedia can be categorized into streaming stored audio/video, streaming live audio/video, and real-time interactive audio/video. It provides advantages like deep involvement, multi-sensory learning, and individualization but also disadvantages like potential for cognitive overload, lack of structure without interactivity, and being time consuming to create. Distance learning uses multimedia and technologies like video conferencing, chat rooms, and podcasts for flexibility while physically separated, though it comes with disadvantages like lack of social interaction and not all courses being available online.