A system which utilizes the processing capabilities of the graphics processing unit (GPU) in the graphics controller. Each frame of each video stream or track is decoded into a buffer and a color profile indicating parameters of the color space of the video source is associated with the buffer. The compositor uses the color profile to convert each buffer to a defined working color space from the source color space. This conversion and rendering of the buffer is performed using the fragment processing capabilities of the GPU. The compositor then instructs the GPU to convert the buffer to the final color space of the display device and the frame is rendered to the frame buffer for final display. Each of these operations is done in real time for each frame of the video.