An information storage medium has a first playback unit (music number or tune) for playing back the audio information and a second playback unit (AOB) being more fine than the first playback unit (music number), and one or more pieces of management information (AOBI) each pertaining to the second playback unit (AOB) are recorded in a line (arrangement sequence of AOBI# in music #). Display mode information indicating the display method (display order/display sequence, display timing) of image information (IMG_xx.IOB) is described in management information (AOBI# in music #) recorded at the head position in the first playback unit (music number) of this management information (AOBI).