[zero_one_one]

Most of the TV and movies you've been watching since things went digital are cases where 'high dynamic range' has been jammed into a standard dynamic range container (most features and high-end drama would shoot either raw or record sensor data using some form of logarithmic transfer function to maximize the amount of information per bit or encoding). All information coming from the debayered raw or camera's widest 'record gamut' that's outside of the Rec.709 (or P3 for cinema) colourspace has simply been mapped down to an equivalent Rec. 709 / P3 value via a Look Up Table, graded down to fit within the output gamut, or simply clamped/thrown away.

HDR now gives a lot more to play with from a post production standpoint (when shot raw or using some logarithmic transfer function to encode the sensor data), as more of the picture information coming off the camera sensor can be utilised (where exposure, recording format and compression allow)