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If you trust the player, then no, you're done. If this is a one-off use case then that's good enough.
If you're creating it for a wider audience, then it's best to assume no player is sane, and use a colormatrix filter. Your workflow dictates this, but most open source workflows go through ffmpeg, avisynth, or vapoursynth, each of which has a method to colormatrix, and most GUIs directly include the option.
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