
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.

Personally present or taking place in front of an audience.
Ich habe meine Lieblingsband letztes Jahr live auf einem Konzert gesehen.
I saw my favorite band live at a concert last year.
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
When referring to transmission, direkt describes an immediate connection without intermediate steps. Live, on the other hand, means that an event is broadcast in real time rather than as a recording. A direct transmission therefore does not automatically have to be live; for this contrast in timing, live is unambiguous.

Der Sender überträgt die Bilder live aus dem Saal.
The broadcaster is transmitting the images live from the hall.
Die Kamera übermittelt die Bilder direkt aus dem Saal ins Studio.
The camera sends the images directly from the hall to the studio.