Banners are small ads that when touched typically take the user to some form of full-screen in-app browsing experience.
Interstitials, on the other hand, immediately present rich HTML5 experiences or "web apps" at natural app transition points such as launch, video pre-roll or game level load. Web apps are in-app browsing experiences with a simple close button rather than any navigation bar—the content provides its own internal navigation scheme. Interstitial ads are typically more expensive and subject to impression constraints.
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