If you are in post-production, you will often be working in large project teams, liaising with colleagues and external partners, to breathe life into your clients' projects. This often means different users viewing the same content on a variety of display types and viewing environments. This often leads to inconsistent results.
As a standard, it is important that all colors, grayscales, and contrasts are displayed consistently on all the monitors used by the project team exactly how it is must look later for viewers.
Video editing monitors used in post-production should have a wide gamut and reproduce video standards such as Rec709, Rec2020, DCI, Rec2100, and of the new age HDR colour space that includes PQ and HLG gamma. A high contrast ratio and illustrated keys are important so you can work in the darkened studio.
A colour space defines the limits of colour gamut, gamma and white point for a video standard. All video is intended to be delivered and watched on some kind of display. How your video content will be consumed determines the colour space you need to work in.
The important thing is to set your monitor to the calibrated colour profile that matches the standard you are delivering in. Grade within the specs of the standard and anyone who sets their monitor/TV to the same standard should see it as intended.
It is very important to use a post-production monitor that is capable of displaying the full-colour gamut of all the colour spaces you’re working in. In short, you must be editing on ACCURATE colours.