There is something that you can experience only in a live setting.
It's the kind of atmosphere that you can experience only in real time and place.
ご質問ありがとうございます。
① "There is something that you can experience only in a live setting."＝「生の環境でしか経験できない何かがあります。」
② "It's the kind of atmosphere that"＝「～の種類の雰囲気」
"you can experience only in real time and place."＝「生の時間と空間でしか経験できない。」
ご参考に。
アメリカ合衆国 
