A system and method for preprocessing and delivering multimedia presentations to customers such that delays due to interactive response time is virtually eliminated include a preprocessor, mass storage, a delivery processor, a distribution network, and a plurality of presentation processors. The preprocessor receives as inputs an original multimedia presentation and parameters characterizing other system components, which parameters include the round trip latency between the delivery processor and a presentation processor, and generates a preprocessed multimedia presentation including a delivery schedule in the form of a labelled, directed graph. In generating the delivery schedule, the preprocessor ensures that each object of the presentation and its associated presentation command arrive at the presentation processor no later than its presentation time; objects and commands which are delivered to the presentation processor can be accommodated at the memory of the presentation processor; and those objects to be presented immediately in response to a customer's selection of an interactive feature are received at the presentation processor prior to their earliest presentation times. This delivery schedule contains delivery commands which are executed by the delivery processor for transmitting objects of the presentation and their associated presentation commands to the presentation processor, which executes the presentation commands and presents the objects to its corresponding customer.