Funnily enough, I actually ended up giving myself a crash course in this very topic when encoding frag movies for Quake 3/Quake Live. It was/is common practice

Funnily enough, I actually ended up giving myself a crash course in this very topic when encoding frag movies for Quake 3/Quake Live. It was/is common practice to use 'brightskins' on your enemy models in competitive play to make them easier to see, typically being a colour like '#00FF00'. I noticed that when uploading to online media hosting sites like Youtube these bright colours would become noticeably washed out and degraded. My investigation of why this happened led me all the way down this rabbit hole. This was the better half of ten years ago now so I have no idea if it still occurs, but I ended up just rendering the videos using a better brightskin colour that appeared less degraded after conversion... Going through the cycle of 'rerender/reupload/check' to find a replacement colour again and again to experiment sure was a major pain!