live
Taking place, being broadcast, or transmitted in real time; not recorded.
Die Nachrichten werden jeden Abend um 20 Uhr live ausgestrahlt.
The news is broadcast live every evening at 8 p.m.

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Taking place, being broadcast, or transmitted in real time; not recorded.
Die Nachrichten werden jeden Abend um 20 Uhr live ausgestrahlt.
The news is broadcast live every evening at 8 p.m.

The adjective 'live' is usually not declined, even when it comes before a noun. It generally keeps its base form, which is unusual for German adjectives.
Ich habe gestern ein tolles live Konzert besucht.
I went to a great live concert yesterday.
'Live' often stands like an adverb directly after the verb or as part of a compound before a noun. It describes the way in which something takes place.
Wir übertragen die Veranstaltung live im Internet.
We are broadcasting the event live on the internet.
Whether a broadcast in real time (m01) or a performance in front of an audience (m02) is meant can be recognized from context. Words like 'Sendung' (broadcast/program) or 'Nachrichten' (news) point to real time, while 'Konzert' (concert) or 'Band' (band) point to an audience.
Die Pressekonferenz wird live im Fernsehen gezeigt.
The press conference is being shown live on television.
direct
'direkt' and 'live' can both mean that something is experienced without distance or an intermediate step. However, 'direkt' is more general and describes an immediate connection or effect. 'live' is used mainly for concerts, events, shows, or broadcasts. It means that something is happening in real time, or that you are there in person and not just watching a recording. Learners may confuse the words because both express closeness. For television, streaming, or a concert, 'live' is usually more precise. For general immediate contact, 'direkt' fits.

Mila hat das Konzert gestern live im Radio gehört.
Mila listened to the concert live on the radio yesterday.
Wir haben die Nachricht direkt vom Veranstalter bekommen.
We got the message directly from the organizer.