The present invention provides a projection display capable of realizing high contrast in a display image plane. The projection display includes a light source; a first light modulator modulating light from the light source on the basis of an input image signal, and generating a first image light; a second light modulator modulating the first image light on the basis of the image signal, and generating a second image light; and a projection lens projecting the second image light generated with the second light modulator.