SCHEDULE 13G  
  
Amendment No.   
Live Entertainment Incorporated  
common stock  
Cusip # 538032400  
Filing Fee: Yes  
 
 
Cusip # 538032400  
Item 1:	Reporting Person - FMR Corp. - (Tax ID:  04-2507163)  
Item 4:	Commonwealth of Massachusetts  
Item 5:	140,842  
Item 6:	None  
Item 7:	957,725  
Item 8:	None  
Item 9:	957,725  
Item 11:	28.37%  
Item 12:	HC   
  
  
 
 
Cusip # 538032400  
Item 1:	Reporting Person - Edward C. Johnson 3d - (Tax ID:  ###-##-####)  
Item 4:	United States of America  
Item 5:	None  
Item 6:	None  
Item 7:	957,725  
Item 8:	None  
Item 9:	957,725  
Item 11:	28.37%  
Item 12:	IN   
  
  
 
 
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS  
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)  
  
  
Item 1(a).	Name of Issuer:  
  
		Live Entertainment Incorporated  
  
Item 1(b).	Name of Issuer's Principal Executive Offices:  
  
		15400 Sherman Way   
		Van Nuys, CA  91406-4211  
  
Item 2(a).	Name of Person Filing:   
  
		FMR Corp.  
  
Item 2(b).	Address or Principal Business Office or, if None, Residence:  
  
		82 Devonshire Street, Boston, Massachusetts  02109  
  
Item 2(c).	Citizenship:  
  
		Not applicable  
  
Item 2(d).	Title of Class of Securities:  
  
		Common Stock  
  
Item 2(e).	CUSIP Number:    
  
		538032400  
  
Item 3.	This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) and the  
person filing, FMR Corp., is a parent holding company in accordance  
with Section 240.13d-1(b)(ii)(G).  (Note:  See Item 7).  
  
Item 4.	Ownership  
  
	(a)	Amount Beneficially Owned: 
	957,725  
  
	(b)	Percent of Class: 
	28.37%  
  
	(c)	Number of shares as to which such person has:    
  
	(i)	sole power to vote or to direct the vote: 
	140,842  
  
	(ii)	shared power to vote or to direct the vote: 
	None  
  
	(iii)	sole power to dispose or to direct the disposition of: 
	957,725  
  
	(iv)	shared power to dispose or to direct the disposition of: 
	None  
  
  
 
 
Item 5.	Ownership of Five Percent or Less of a Class.  
  
	Not applicable.  
  
Item 6.	Ownership of More than Five Percent on Behalf of Another Person.  
  
	Various persons have the right to receive or the power to  
direct the receipt of dividends from, or the proceeds from the  
sale of, the common stock of Live Entertainment Incorporated.   
The interest of one person, Variable Insurance Product High  
Income Portfolio, an investment company registered under the  
Investment Company Act of 1940, in the common stock of Live  
Entertainment Incorporated, amounted to 207,132 shares or 6.14%  
of the total outstanding common stock at December 31, 1994.   
The number of shares of common stock of Live Entertainment  
Incorporated owned by the investment company at December 31,  
1994 included 116,379 shares of common stock resulting from the  
assumed conversion of 581,895 shares of the PIK Convertible  
Preferred Stock (0.2 shares of common stock for each share of  
the PIK Convertible Preferred Stock), 46,400 shares of common  
stock resulting from the assumed conversion of 232,000 shares  
of the $2.00 Convertible Subordinated Debentures (0.2 shares of  
common stock for each share of the$2.00 Convertible  
Subordinated Debentures), and  44,353 shares of common stock  
resulting from the assumed conversion of 221,765 shares of the  
$2.72 Convertible Subordinated Debentures (0.2 shares of common  
stock for each share of the $2.72 Convertible Subordinated  
Debentures).  The interest of one person, Fidelity Puritan  
Fund, an investment company registered under the Investment  
Company Act of 1940, in the common stock of Live Entertainment  
Incorporated, amounted to 201,873 shares or 5.98% of the total  
outstanding common stock at December 31, 1994.   The number of  
shares of common stock of Live Entertainment Incorporated owned  
by the investment company at December 31, 1994 included 101,732  
shares of common stock resulting from the assumed conversion of  
508,660 shares of the PIK Convertible Preferred Stock (0.2  
shares of common stock for each share of the PIK Convertible  
Preferred Stock), 51,200 shares of common stock resulting from  
the assumed conversion of 256,000 shares of the $2.00  
Convertible Subordinated Debentures (0.2 shares of common stock  
for each share of the$2.00 Convertible Subordinated  
Debentures), and  48,941 shares of common stock resulting from  
the assumed conversion of 244,705 shares of the $2.72  
Convertible Subordinated Debentures (0.2 shares of common stock  
for each share of the $2.72 Convertible Subordinated  
Debentures).  The interest of one person, Fidelity Management  
Trust Company, a bank as defined in Section 3(a)(6) of the  
Securities Exchange Act of 1934, in the common stock of Live  
Entertainment Incorporated, amounted to 246,395 shares or 7.30%  
of the total outstanding common stock at December 31, 1994.    
The number of shares of common stock of Live Entertainment  
Incorporated owned by the investment company at December 31,  
1994 included 246,395 shares of common stock resulting from the  
assumed conversion of  1,231,985 shares of the PIK Convertible  
Preferred Stock (0.2 shares of common stock for each share of  
the PIK Convertible Preferred Stock)  
  
Item 7.	Identification and Classification of the Subsidiary Which Acquired  
the Security Being Reported on By the Parent Holding Company.  
  
	See attached Exhibit(s) A and B.  
  
Item 8.	Identification and Classification of Members of the Group.  
  
	Not applicable, see attached Exhibit A.   
  
Item 9.	Notice of Dissolution of Group.  
  
	Not applicable.  
 
 
Item 10.	Certification.  
  
	By signing below I certify that, to the best of my knowledge  
and belief, the securities referred to above were acquired in  
the ordinary course of business and were not acquired for the  
purpose of and do not have the effect of changing or  
influencing the control of the issuer of such securities and  
were not acquired in connection with or as a participant in any  
transaction having such purpose or effect.  
  
  
Signature  
  
	After reasonable inquiry and to the best of my knowledge and  
belief, I certify that the information set forth in this  
Schedule 13G in connection with FMR Corp's beneficial ownership  
of the common stock of Live Entertainment Incorporated at  
December 31, 1994 is true, complete and correct.   
  
  
  
	February 13, 1995	  
Date  
  
  
  
	/s/Arthur S. Loring  
Signature  
  
  
  
	Arthur S. Loring, Vice  
President	  
Name/Title  
  
  
 
 
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS  
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)  
  
	Pursuant to the instructions in Item 7 of Schedule 13G, Fidelity  
Management & Research Company ("Fidelity"), 82 Devonshire Street, Boston,  
Massachusetts 02109, a wholly-owned subsidiary of FMR Corp. and an investment  
adviser registered under Section 203 of the Investment Advisers Act of 1940,  
is the beneficial owner of 711,330 shares or 21.07% of the common stock  
outstanding of Live Entertainment Incorporated ("the Company") as a result of  
acting as investment adviser to several investment companies registered under  
Section 8 of the Investment Company Act of 1940.  The number of shares of  
common stock of Live Entertainment Incorporated owned by the investment  
companies at December 31, 1994 included 320,154 shares of common stock  
resulting from the assumed conversion of 1,600,771 shares of the PIK  
Convertible Preferred Stock (0.2 shares of common stock for each share of the  
PIK Convertible Preferred Stock).     
  
	The ownership of one investment company, Variable Insurance Product High  
Income Portfolio, amounted to 207,132 shares or 6.14% of the common stock  
outstanding.   The number of shares of common stock of Live Entertainment  
Incorporated owned by the investment company at December 31, 1994 included  
116,379 shares of common stock resulting from the assumed conversion of  
581,895 shares of the PIK Convertible Preferred Stock (0.2 shares of common  
stock for each share of the PIK Convertible Preferred Stock), 46,400 shares of  
common stock resulting from the assumed conversion of 232,000 shares of the  
$2.00 Convertible Subordinated Debentures (0.2 shares of common stock for each  
share of the$2.00 Convertible Subordinated Debentures), and  44,353 shares of  
common stock resulting from the assumed conversion of 221,765 shares of the  
$2.72 Convertible Subordinated Debentures (0.2 shares of common stock for each  
share of the $2.72 Convertible Subordinated Debentures).  Variable Insurance  
Product High Income Portfolio has its principal business office at 82  
Devonshire Street, Boston, Massachusetts 02109.    
  
	The ownership of one investment company, Fidelity Puritan Fund, amounted  
to 201,873 shares or 5.98% of the common stock outstanding.  The number of  
shares of common stock of Live Entertainment Incorporated owned by the  
investment company at December 31, 1994 included 101,732 shares of common  
stock resulting from the assumed conversion of 508,660 shares of the PIK  
Convertible Preferred Stock (0.2 shares of common stock for each share of the  
PIK Convertible Preferred Stock), 51,200 shares of common stock resulting from  
the assumed conversion of 256,000 shares of the $2.00 Convertible Subordinated  
Debentures (0.2 shares of common stock for each share of the$2.00 Convertible  
Subordinated Debentures), and  48,941 shares of common stock resulting from  
the assumed conversion of 244,705 shares of the $2.72 Convertible Subordinated  
Debentures (0.2 shares of common stock for each share of the $2.72 Convertible  
Subordinated Debentures).  Fidelity Puritan Fund has its principal business  
office at 82 Devonshire Street, Boston, Massachusetts 02109.    
  
	Edward C. Johnson 3d, FMR Corp., through its control of Fidelity, and the  
Funds each has sole power to dispose of the 711,330 shares owned by the Funds.  
  
	Neither FMR Corp. nor Edward C. Johnson 3d, Chairman of FMR Corp., has  
the sole power to vote or direct the voting of the shares owned directly by  
the Fidelity Funds, which power resides with the Funds' Boards of Trustees.   
Fidelity carries out the voting of the shares under written guidelines  
established by the Funds' Boards of Trustees.  
  
	Fidelity Management Trust Company, 82 Devonshire Street, Boston,  
Massachusetts 02109, a wholly-owned subsidiary of FMR Corp. and a bank as  
defined in Section 3(a)(6) of the Securities Exchange Act of 1934, is the  
beneficial owner of 246,395 shares or 7.30% of the common stock outstanding of  
the company as a result of its serving as investment manager of the  
institutional account(s).  The number of shares of common stock of Live  
Entertainment Incorporated owned by the institutional account(s) at December  
31, 1994 included 246,395 shares of common stock resulting from the assumed  
conversion of 1,231,985 shares of the PIK Convertible Preferred Stock  
described above.  
  
	Edward C. Johnson 3d and FMR Corp., through its control of Fidelity  
Management Trust Company, has sole dispositive power over 246,395 shares and  
sole power to vote or to direct the voting of 140,842 shares, and no power to  
vote or to direct the voting of 105,553 Shares of common stock owned by the  
institutional account(s) as reported above.  
  
	Edward C. Johnson 3d and Abigail P. Johnson each own 24.9% of the  
outstanding voting common stock of FMR Corp.  Mr. Johnson 3d is Chairman of  
FMR Corp.  Various Johnson family members and trusts for the benefit of  
Johnson family members own FMR Corp. voting common stock.  These Johnson  
family members, through their ownership of voting common stock and the  
execution of a family shareholders' voting agreement, form a controlling group  
with respect to FMR Corp.  
  
 
 
SCHEDULE 13G - TO BE INCLUDED IN STATEMENTS  
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)  
  
RULE 13d-1(f)(1)  AGREEMENT  
  
	The undersigned persons, on February 13, 1995, agree and consent to the  
joint filing on their behalf of this Schedule 13G in connection with their  
beneficial ownership of the common stock of Live Entertainment Incorporated at  
December 31, 1994.  
  
	FMR Corp.  
	By	/s/Arthur S. Loring  
Arthur S. Loring 
Vice President - Legal  
	Edward C. Johnson 3d  
	By	/s/Arthur S. Loring  
Arthur S. Loring 
Under Power of Attorney dated  
5/17/89 
On File with Schedule 13G for 
Airborne Freight Corp. 9/10/91  
	Fidelity Management & Research Company  
	By	/s/Arthur S. Loring  
Arthur S. Loring 
Sr. V.P. and General Counsel  
	Variable Insurance Product High Income  
Portfolio  
	By	/s/Arthur S. Loring  
Arthur S. Loring 
Secretary  
	Fidelity Puritan Fund  
	By	/s/Arthur S. Loring  
Arthur S. Loring 
Secretary  
	Fidelity Management Trust Company  
	By	/s/John P. O'Reilly  
John P. O'Reilly 
Executive Vice President