Blue Ant Media reported strong financial results for the third quarter of fiscal 2026, with revenue more than doubling year over year to C$125.6 million, up from C$56.0 million in the same period last year.
The company’s Adjusted EBITDA also increased from C$14.6 million to C$16.8 million, reflecting continued growth across its production and distribution businesses.
Despite the strong top-line performance, Blue Ant Media posted a net loss of C$17.5 million, primarily due to a C$33.1 million non-cash impairment charge tied to broadcast licenses in its Canadian Media segment, as Canada’s linear television market continues to experience declines in subscriber and advertising revenue.
CEO Michael MacMillan credited Blue Ant Media’s recent acquisitions for driving significant improvements in both revenue and profitability, particularly within its production and distribution operations. As part of its next phase of growth, Blue Ant has also consolidated its Rights and Global Channels divisions into a single content monetization unit, Blue Ant Rights & Streaming.
The restructuring includes the appointment of Mark Bishop as Chief Monetization Officer of Blue Ant Rights & Streaming and Matt Hornburg as Chief Content Officer of Blue Ant Studios. The company’s Kids, Family & Young Adult business has also been unified under the leadership of Jennifer Twiner McCarron.
Blue Ant Media said it has largely completed the integration of Thunderbird Entertainment Group and remains on track to achieve C$7 million in acquisition-related synergies.
Production continued to be a key growth driver during the quarter, with new commissions including Wild Frontier for ITV, Top Chef Canada: The Dessert Table for Flavour Network, and Mountain Men: Wild North for The HISTORY Channel and A+E Global Media. The company also secured second-season renewals for Canada Shore, Super Team Canada, and Beer Budget Reno, while continuing production services on major children’s franchises including Marvel’s Iron Man and His Awesome Friends, Marvel’s Spidey and His Amazing Friends, CoComelon Lane, Rubble and Crew, and LEGO Star Wars: Rebuild the Galaxy.
Blue Ant Media further strengthened its industry profile by winning 14 Canadian Screen Awards and earning a News & Documentary Emmy nomination for Murder Has Two Faces.
On the distribution side, Media Pulse became the exclusive direct sales and programmatic advertising partner for Paramount+ and Pluto TV in Canada. The company also expanded its international footprint by launching the Love Nature channel in France, the Netherlands, and Finland, while adding 13 new FAST channels across nine platforms in the United States, the United Kingdom, France, India, and Australia.
Looking ahead, Blue Ant confirmed that beginning with the fourth quarter of fiscal 2026, it will report its financial results under a new operating structure consisting of three business segments: Rights & Streaming, Studios, and Canadian Media.
