Only In Live 12 Standard:

• 42 Audio effects
• 13 MIDI effects
• 13 Software instruments
• 16 Packs with more than 38 GB samples

Official Feature List - Visit Ableton Site

Full Features:

• Unlimited Audio and MIDI tracks
• Unlimited Scenes
• 12 Send and Return tracks
• 256 mono audio input channels
• 256 mono audio output channels

• Unique Session View

• Nondestructive editing with unlimited undo
• Multitrack recording up to 32-bit/192 kHz
• Powerful MIDI sequencing of software and hardware instruments
• Advanced warping and real-time time-stretching
• Unlimited Instruments, Audio effects and MIDI effects per project
• Group tracks
• VST2, VST3 and Audio Unit v2 and v3 support
• Time signature changes

• Comping

• Multiple automation lanes
• MIDI Polyphonic Expression
• Track Freeze
• Capture MIDI
• Tempo Following
• Note Chance
• Note Compatibility
• Complex warp modes
• Note and Velocity Chance
• Groove Pool and extract groove
• Video import/export
• Linked-track editing
• Audio-slicing
• Audio to MIDI
• REX file support
• POW-r dithering

Updated for Live 12

• Live Core Library
• Modulation

New in Live 12

• Tuning Systems
• Keys and Scales
• Screen Reader Support
• Sound Similarity / Browsing
• User Tagging
• Custom Browser Labels
• Browsing History
• Factory tags