LUT files are used to transform color values, which helps to ensure accurate color correction across multiple software and hardware setups. LUT also provides a powerful way to provide a one-click grade, simulating specific film stocks and processing techniques. Applying a LUT to flat footage can produce high quality results very quickly.
The LUT effect can import .cube LUT files.
Take a look at this comparison:
On the left is the original footage, which was purposely shot to be ‘flat’, providing a neutral starting point for the grade.
The middle image is using a LUT designed to mimic the look of KODACHROME film. The only additional alteration that has been made is to slightly reduce the saturation. In about 10 seconds you can got from a basic flat look to a highly dramatic and filmic grade.” Find out more about KODACHROME and grab the LUT here.”:https://frankglencairn.wordpress.com/2014/01/15/everything-looks-better-on-kodachrome-k-tone-lut/
The image on the right is using a Kodak 2393 emulation LUT, Again, you can achieve a good film look with literally a couple of clicks, and note how different this look is to the KODACHROME. You can download several film emulation LUTs and find some great behind-the-scenes info here.
- File Path: Click the folder icon to select the .cube file you wish to apply to your layer.
- Strength: Adjusts the intensity of the selected LUT’s effect on your layer, to provide finer control.
Using LUTs
1. Add the LUT effect to your layer, from the Effects panel.
2. In the controls for the LUT effect, click the Folder icon 
to the right of the LUT File property.
3. In the File browser that opens, navigate to the .cube file that you wish to use, and select it.
The LUT will be applied to your layer, and the path to its location will be shown in the effect controls.