This article is from the MPEG FAQ, by Frank Gadegast phade@cs.tu-berlin.de with numerous contributions by others.
By definition, MPEG samples have no more and no less than 8-bits
uniform sample precision (256 quantization levels). For luminance
(which is unsigned) data, black corresponds to level 0, white is level
255. However, in CCIR recommendation 601 chromaticy, luminance (Y)
levels 0 through 14 and 236 through 255 are reserved for blanking
signal excursions. MPEG currently has no such clipped excursion
restrictions, although decoder might take care to insure active samples
do not exceed these limits. With three color components per pixel, the
total combination is roughly 16.8 million colors (i.e. 24-bits).
 
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