Arc System Works’ Toshimichi Mori, in a recent exclusive interview with Japanese magazine Gemaga, has stated that one of the things he’d like to work in in 2012 would be BlazBlue 3. This is big news as it represents a new numbered iteration of the series and not just an update to Continuum Shift (the second game in the series); however Mori did not say if BlazBlue 3 would effectively conclude the series as a trilogy and whether they would begin work on something else (a new Guilty Gear perhaps) after it.
In addition to this, Mori has also stated that he would like to see a BlazBlue animé made as well and left hints for any studio producers to contact him. While he was partly joking when he was saying this, he did mention that any interested producers should contact him. This does seem to make sense as the series is known for having detailed story modes in its console ports – an animated series seems to be the natural extension.
Source Japanator (thanks to Zonic for the tip)