Blue Ant Media on Wednesday announced its revenue in the third quarter of its 2026 fiscal year was $125.6 million compared to $56 million in the prior year period, a year-over-year increase of 124 per cent.
The revenue increase was primarily driven by significant growth in Blue Ant’s production and distribution segment, which reported $82.7 million in revenue for the three months that ended May 31, compared to $12.9 million in the same quarter of 2025.
“These positive variances were primarily driven by significantly higher production activity, in particular service production, from Blue Ant’s newly acquired production businesses, including the first full quarter of Thunderbird, as well as strong distribution revenue,” said a Blue Ant press release announcing its financial results for the third quarter 2026.
Blue Ant’s global channels and streaming segment reported revenue of $23.7 million in Q3 2026, compared to $21.2 million in Q3 2025.
“These results are primarily driven by the continued strength of the Media Pulse ad sales business and growth in subscriber revenue in the MagellanTV SVOD platform,” Blue Ant’s press release said.
Blue Ant’s Canadian media segment saw its revenue decrease to $19.3 million in Q3 2026 compared to $22 million in the same quarter of 2025. Blue Ant said seasonally strong performance in its consumer show business was offset by a continued downturn in the Canadian linear advertising market.
Overall, Blue Ant reported a net loss of $17.5 million in the quarter compared to $11.2 million in the prior year period. “This result is predominantly due to a $33.1 million impairment of broadcast licenses in the Company’s Canadian Media segment stemming from declines in subscriber and advertising revenue as a result of sustained challenging market conditions,” Blue Ant’s press release said.
Beginning with its fourth quarter of fiscal 2026, Blue Ant said it intends to report its financial results under three segments — Rights and Streaming, Studios, and Canadian Media — reflecting how it now operates the business.
