Blue Jays, MLSE stake drive Rogers revenue growth amid World Series run

Swelling enthusiasm for the World Series-bound Toronto Blue Jays boosted sales at Rogers Communications Inc., which owns the team and broadcasts its games, nearly offsetting an overall dip in adjusted earnings.

The telecom reported a surge in media revenue of 26 per cent year-over-year in the three months ended Sept. 30.

The leap accounted for the vast majority of growth in total revenue, which increased four per cent to $5.35 billion, despite the media segment comprising the smallest of Rogers’ three main areas. Wireless and cable make up the other two.

“In media, revenue growth was up 26 per cent, driven by a strong Blue Jays regular season and the consolidation of MLSE results,” chief executive Tony Staffieri told analysts on a conference call Thursday.

Total profits in the third quarter rose by an order of magnitude to $5.75 billion, mainly due to a one-time non-cash gain linked to Rogers’ acquisition of BCE Inc.’s stake in Maple Leaf Sports & Entertainment. The deal made Rogers the majority owner of the country’s largest sports company, whose assets include the Toronto Maple Leafs and Toronto Raptors.

Meanwhile, the Blue Jays’ “very strong regular season performance” garnered higher attendance levels and growing interest from fans countrywide, particularly in September when the team clinched a return to the post-season, said chief financial officer Glenn Brandt.

Regardless of the outcome of the championship contest that kicks off Friday, Rogers will see higher media revenue this month thanks to its baseball franchise.

“The Blue Jays’ very successful MLB playoffs and World Series run will provide further added growth in the fourth quarter,” Brandt said.

“Go Jays.”

Rogers’ wireless service — its biggest income source — saw revenue dip to $2.06 billion in its latest quarter from $2.07 billion a year earlier.

“In the highly competitive wireless market, we saw some pressure on service revenue and ARPU (average revenue per user),” Staffieri said. Executives also pointed to lower immigration levels as a reason for the slight downturn.

Cable revenue climbed to $1.98 billion from $1.97 billion the year before.

On an adjusted basis, which excluded a $5-billion gain related to the MLSE deal, Rogers said it earned $740 million attributable to shareholders or $1.37 per share in the third quarter, down from $762 million or $1.42 per share a year ago.

This report by The Canadian Press was first published Oct. 23, 2025.

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