This article reviews research regarding the question whether presenting music live, audio-visually or only aurally makes any difference for listeners' experiences. Most factors that characterise live performance could be supposed to enhance listeners' cognitive, affective and evaluative experiences. However, it is often hard to predict the exact influence of the visual stimuli that relate to audio-visual, and mostly also to live musical presentation. Many studies show that live music has positive effects on listeners' experience. However, there is little systematic research that compares live music with other modes of presentation. Studies comparing the effects of audio-visual and aural presentation have yielded rather mixed results. There is an obvious need for well-controlled studies on the effects of live music and on audio-visual music presentation based mainly on musico-psychological rather than visual-artistic principles. The research needs to take account of the variables that are crucial for understanding the effects of different modes of presentation.