Gamma-Shift

[Sascha Haber]

Classic scaling error.
You are rendering video to data accidentally.
Change your project setting, viewing settings, interpret footage correctly. Done.

Resolve 11.3 – Smoke 2015 EXT1 – Sapphire 8
Colorist / VFX Guru / Aerial footage nerd
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[Marc Wielage]

The differences will be more apparent (and measurable) if you use SMPTE bars and/or a full-screen grayscale and check the scopes. This will give you the clues towards the workflow you need to follow.

[Eric Sternberger]

Thanks, Sascha!
In the Rendering Tab “Video/Data Level” was set to Auto.
Setting it to “Video” solved this…