A method for processing and rendering image data on a target display through a set of levels of metadata, said metadata being associated with said image data, the steps of said method comprising: inputting the image data; ascertaining the set of levels of metadata associated with the image data, wherein the various levels of metadata enable a color management algorithm for color management processing on the image data to tailor the image data for the target display with increasing levels of accuracy; and determining color management algorithm parameters for a color management algorithm for color management processing on the image data, comprising: if no metadata is associated with the image data, performing at least one of assuming default values for the color management algorithm parameters and estimating values of the color management algorithm parameters based on information gained from analyzing the image data; and if a set of levels of metadata is associated with the image data, calculating the color management algorithm parameters according to at least one parameter of the set of levels of metadata, wherein the set of levels of metadata comprises first level metadata that are indicative of source image data having been color graded using a first reference display in a post-production environment to produce said image data, and wherein the step of calculating color management algorithm parameters further comprises: predicting said source image data that has been color graded using a first reference display, based upon at least one parameter of first level metadata, said first level metadata comprising at least one of: video encoding parameters, source content gamut parameters and information on the post-production environment. inputting the image data; ascertaining the set of levels of metadata associated with the image data, wherein the various levels of metadata enable a color management algorithm for color management processing on the image data to tailor the image data for the target display with increasing levels of accuracy; and determining color management algorithm parameters for a color management algorithm for color management processing on the image data, comprising: if no metadata is associated with the image data, performing at least one of assuming default values for the color management algorithm parameters and estimating values of the color management algorithm parameters based on information gained from analyzing the image data; and if a set of levels of metadata is associated with the image data, calculating the color management algorithm parameters according to at least one parameter of the set of levels of metadata, if no metadata is associated with the image data, performing at least one of assuming default values for the color management algorithm parameters and estimating values of the color management algorithm parameters based on information gained from analyzing the image data; and if a set of levels of metadata is associated with the image data, calculating the color management algorithm parameters according to at least one parameter of the set of levels of metadata, wherein the set of levels of metadata comprises first level metadata that are indicative of source image data having been color graded using a first reference display in a post-production environment to produce said image data, and wherein the step of calculating color management algorithm parameters further comprises: predicting said source image data that has been color graded using a first reference display, based upon at least one parameter of first level metadata, said first level metadata comprising at least one of: video encoding parameters, source content gamut parameters and information on the post-production environment.