In the VFX industry you don't roundtrip lossy codecs; first step is to decode to something lossless like EXR or TIFF, and those are what you pipe through your workflows. (With maybe lowres JPEG "proxies" to make iteration a bit quicker.)
Film/TV more generally I think tolerates slightly lossy codecs like RED or Pro Res, as there's often only 1-2 intermediate steps that could cause extra loss. (E.g. the part of editing that is just 'cutting' is pass-through, but color-grading would require a second encoding step.)
Film/TV more generally I think tolerates slightly lossy codecs like RED or Pro Res, as there's often only 1-2 intermediate steps that could cause extra loss. (E.g. the part of editing that is just 'cutting' is pass-through, but color-grading would require a second encoding step.)