When rendering a movie out as a PNG sequence, the PNGs are all rendered with Transparency and require the addition of a Black layer before the frame can be viewed as in the Matinee.
Went back and tested in 4.5.1 QA Build and 4.6.1 Launcher (2386410)
Also Reproduced in Main Promotable-CL-2493094
UDN Link for the same issue:
RESULTS: See attached Image, All PNGs Have Transparency
EXPECTED: PNGs should be rendered without transparency OR have a toggle which allows for rendering without transparency
Head over to the existingAnswerHub thread and let us know what's up.