live-action film
A film using real actors and physical sets, as opposed to animation or CGI. The most common meaning.
A live-action film adaptation of that anime will be released next year.
film using real footage
A broader, less common sense: a film that incorporates footage of actual events or real scenes, not necessarily a narrative live-action movie. May overlap with documentary or newsreel usage.
This film uses real footage of the actual disaster.