This paper deals with the impact of content on the perceived video quality evaluated using the subjective Absolute Category Rating (ACR) method. The assessment was conducted on eight types of video sequences with diverse content obtained from the SJTU dataset. The sequences were encoded at 5 different constant bitrates in two widely video compression standards H.264/AVC and H.265/HEVC at Full HD and Ultra HD resolutions, which means 160 annotated video sequences were created. The length of Group of Pictures (GOP) was set to half the framerate value, as is typical for video intended for transmission over a noisy communication channel. The evaluation was performed in two laboratories: one situated at the University of Zilina, and the second at the VSB—Technical University in Ostrava. The results acquired in both laboratories reached/showed a high correlation. Notwithstanding the fact that the sequences with low Spatial Information (SI) and Temporal Information (TI) values reached better Mean Opinion Score (MOS) score than the sequences with higher SI and TI values, these two parameters are not sufficient for scene description, and this domain should be the subject of further research. The evaluation results led us to the conclusion that it is unnecessary to use the H.265/HEVC codec for compression of Full HD sequences and the compression efficiency of the H.265 codec by the Ultra HD resolution reaches the compression efficiency of both codecs by the Full HD resolution. This paper also includes the recommendations for minimum bitrate thresholds at which the video sequences at both resolutions retain good and fair subjectively perceived quality.