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A pop-up is any type of an ad that appears in a new browser. This type of ad is all but dead, as the advent of pop-up blockers and general user frustration has made them very ineffective.
Rich media advertising can take several different forms. The first is one that can take over the screen. You often see these where something happens in front of the text you are trying to read and you either wait for it to complete or search for the little close button.
The second type of rich media is one that allows the user to interact with the banner. The most basic of these are the little games that you can play within a banner (the Punch the Monkey is a simple example) up to full video and audio that's embedded into a banner area.
That's the basics, but as bandwidth grows and technology improves, the definition of "rich media" constantly changes. As with all online marketing, you want to make sure that you can track the effectiveness to a predefined KPI (key performance indicator) such as leads, emails acquired, sales, etc. Impressions or clicks are not always enough to determine the true effectiveness of an ad.
Rich media is a Web advertising -- whether a banner ad, box ad, leaderboard or any other ad formats -- that uses technology such as mouseovers, streaming video, animation, and downloaded applets that interact instantly with the user. Note that rich media is not a popup and does not cause a new page to launch automatically
A pop-up on the other hand is an ad that displays in a new browser window (hence the term "pop up"). It basically automatically opens a new browser window in your screen.
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