A display system includes a conversion apparatus that converts luminance of a video and a display apparatus that is connected to the conversion apparatus and displays the video. The luminance of the video includes a luminance value in a first luminance range. The conversion apparatus includes: a first acquisition unit, a first luminance converter, a second luminance converter, a quantization converter, and an output unit that outputs a third luminance signal to the display apparatus. The display apparatus includes: a second acquisition unit that acquires the third luminance signal and setting information indicating display settings recommended to the display apparatus in display of the video; a display setting unit that sets the display apparatus by using the acquired setting information; a third luminance converter that converts a third code value indicated by the acquired third luminance signal into a second luminance value compatible with a second luminance range by using the set setting information; and a display controller that displays the video on the display apparatus based on the converted second luminance value.