The present technology relates to a reproduction device, a reproduction method, and a recording medium that enable content having a wide dynamic range of brightness to be displayed with an appropriate brightness. A recording medium, on which the reproduction device of an aspect of the present technology performs reproduction, records coded data of an extended video that is a video having a second brightness range that is wider than a first brightness range, brightness characteristic information that represents a brightness characteristic of the extended video, and brightness conversion definition information used when performing a brightness conversion of the extended video to a standard video that is a video having the first brightness range. The reproduction device outputs data of the extended video after adding frame information including the brightness characteristic information to frame data when information acquired from a display device that is to be an output destination of the video includes information representing a display performance of the extended video, and when no information representing the display performance of the extended video is included, outputs the data of the standard video. The present technology can be applied to a player that reproduces content.