Immersive virtual reality (VR) is increasingly used to simulate concert experiences, yet it remains unclear whether its experiential advantages are accompanied by corresponding physiological changes when audiovisual content is held constant. The present study compared head-mounted immersive VR concert playback with tablet-based video in a fully counterbalanced within-subject design. Musical content and audio reproduction were identical across conditions, isolating the effect of visual immersion. Results showed consistently higher subjective ratings in VR across all measures, including music-induced affect, chills, perceived presence, and performance liking. In contrast, physiological differences were comparatively small: electrodermal activity showed only a modest increase in VR, and heart rate variability did not reliably differentiate between conditions. These findings suggest that immersive VR substantially enhances subjective music experience, particularly in terms of presence and affective engagement, while corresponding changes in autonomic physiology are limited under controlled conditions. The results indicate that subjective and physiological responses were differentially sensitive to the presentation-format manipulation.