Multimedia combines multiple forms of media like text, audio, images, video, and animation. It has been used commercially and for entertainment since the 1960s. Key elements include text, audio, images, video, animation, and hypermedia. Multimedia is applied in various fields like education, journalism, engineering, industry, communication, and medicine for training, presentations, and interactive experiences. It allows information to be presented dynamically and engages users with its multiple media forms.