Color space and bits per pixel

Example of U-V color plane, Y value=0.5
Color model name describes the video color representation. YIQ was used in NTSC television. It corresponds closely to the YUV scheme used in NTSC and PAL television and the YDbDr scheme used by SECAM television.
The number of distinct colours that can be represented by a pixel depends on the number of bits per pixel (bpp). A common way to reduce the number of bits per pixel in digital video is by chroma subsampling (e.g. 4:4:4, 4:2:2, 4:2:0).
Reference : http://en.wikipedia.org/wiki/Video