There are two types of RGB (Red, Green, Blue) for video production. There is Studio RGB which is used for television broadcast, while Computer RGB is for computer viewing.
On a computer monitor, different signals are received for the colours red, green and blue. Pixels on the screen are typically a combination of all three colours from separate signals being fired into them at once, while televisions use composite video signals that mix the colours together.
without being able to effectively change between Studio RGB and Computer RGB, any finished video product will look different on a computer monitor or television screen.
Changing between the two types of RGB setups can also alter the look of the finished product. For example, converting from studio to computer can increase the contrast of the colours and make things “pop”, while going in reverse can have a washed-out.
Some video programs, like Sony Vegas, have features that allow you to switch from Studio RGB to Computer RGB.
The number one thing to consider is that when rendering a video, it should be rendered in the format for its intended audience as changing the RGB format can have a negative effect on the finished product.
Image from Sony Vegas Editing Software