diff --git a/client/ayon_core/lib/transcoding.py b/client/ayon_core/lib/transcoding.py
index e9750864ac..7fe2c84789 100644
--- a/client/ayon_core/lib/transcoding.py
+++ b/client/ayon_core/lib/transcoding.py
@@ -67,6 +67,11 @@ VIDEO_EXTENSIONS = {
 }
 
 
+class UnknownRGBAChannelsError(ValueError):
+    """Raised when we can't find RGB channels for conversion in input media."""
+    pass
+
+
 def get_transcode_temp_directory():
     """Creates temporary folder for transcoding.
 
@@ -1427,7 +1432,7 @@ def get_oiio_input_and_channel_args(oiio_input_info, alpha_default=None):
     review_channels = get_convert_rgb_channels(channel_names)
 
     if review_channels is None:
-        raise ValueError(
+        raise UnknownRGBAChannelsError(
             "Couldn't find channels that can be used for conversion."
         )
 
diff --git a/client/ayon_core/plugins/publish/extract_color_transcode.py b/client/ayon_core/plugins/publish/extract_color_transcode.py
index 3e54d324e3..b259a3230a 100644
--- a/client/ayon_core/plugins/publish/extract_color_transcode.py
+++ b/client/ayon_core/plugins/publish/extract_color_transcode.py
@@ -10,6 +10,7 @@ from ayon_core.lib import (
 )
 
 from ayon_core.lib.transcoding import (
+    UnknownRGBAChannelsError,
     convert_colorspace,
     get_transcode_temp_directory,
 )
@@ -160,17 +161,24 @@ class ExtractOIIOTranscode(publish.Extractor):
                     output_path = self._get_output_file_path(input_path,
                                                              new_staging_dir,
                                                              output_extension)
-                    convert_colorspace(
-                        input_path,
-                        output_path,
-                        config_path,
-                        source_colorspace,
-                        target_colorspace,
-                        view,
-                        display,
-                        additional_command_args,
-                        self.log
-                    )
+                    try:
+                        convert_colorspace(
+                            input_path,
+                            output_path,
+                            config_path,
+                            source_colorspace,
+                            target_colorspace,
+                            view,
+                            display,
+                            additional_command_args,
+                            self.log
+                        )
+                    except UnknownRGBAChannelsError:
+                        self.log.error(
+                            "Skipping OIIO Transcode. Unknown RGBA channels"
+                            f" for colorspace conversion in file: {input_path}"
+                        )
+                        continue
 
                 # cleanup temporary transcoded files
                 for file_name in new_repre["files"]: