Virtual Production (VP) technologies have continued to improve the flexibility of on-set filming and enhance the live concert experience. The core technology of VP relies on high-resolution, high-brightness LED panels to playback/render video content. There are a number of technical challenges to effective deployment e.g. image tile synchronisation across the panels, cross panel colour balancing and compensating for colour fluctuations due to changes in camera angles. Given the complexity and potential quality degradation, the industry prefers "pristine" or lossless compressed source material for displays, which requires significant storage and bandwidth. Modern lossy compression standards like AV1 or H.265 could maintain the same quality at significantly lower bitrates and resource demands. There is yet no agreed methodology for assessing the impact of these standards on quality when the VP scene is recorded in-camera. We present a methodology to assess this impact by comparing lossless and lossy compressed footage displayed through VP screens and recorded in-camera. We assess the quality impact of HAP/NotchLC/Daniel2 and AV1/HEVC/H.264 compression bitrates from 2 Mb/s to 2000 Mb/s with various GOP sizes. Several perceptual quality metrics are then used to automatically evaluate in-camera picture quality, referencing the original uncompressed source content through the LED wall. Our results show that we can achieve the same quality with hybrid codecs as with intermediate encoders at orders of magnitude less bitrate and storage requirements.