iPhone 12 Pro movie imported into iMovie is very washed out

It’s the new HDR video on the iPhone 12. Apple saw fit to update only the iOS iMovie app and not the macOS version to support HDR. The only work around for footage you already have is to use the iOS app. Going forward, you can go into the camera settings and turn off HDR under the Record Video sub menu. Once the HDR setting is off any future recordings should be fine in the macOS iMovie app.

If you are stuck with an HDR video file that you can't afford to lose, then try using the imovie editor. Create a project with you r file. When you're done editing and ready to export, press the share icon. Under your project you will see "Option." Select it. Go to the bottom. Unselect HDR. It will export a non HDR version to your Photos.

This video explains a really easy workaround for the lack of compatibility. I found it really helpful. (If you don't trust the link, just google "iPhone 12 and iMovie on Macbook".

https://youtu.be/fQRa1Mmf0MU

I converted the file to .mp4 and then iMovie see it in the correct colour.

However- Apple - come on I am even on Big Sur 11.0.1 and imovie has not been updated to fix this issue.

VERY Frustrating.

Unselect HDR is not an option for sharing, on iMovie in macOS. Are you referring to an iOS platform?

Nevermind. I see it is iOS. Sorry.

Yeah this was a nice little surprise. I found a workaround, export the video in the Photos app and then import to iMovie. Worked for me.

I had the same problem. After trying a few different things, I found when I used the AirDrop method and the video was converted for me. I hope this helps.