My ear drainage is bloody is that a bad thing?

Blood in ear: Yes. It is a sign something is wrong and an expert should look inside the ear to evaluate the problem.

I hope it's not bad,: But - it is not nothing. Even non-bloody ear drainage might be worth checking out, so "bloody" ear drainage sounds worthy of attention. You don't mention pain, fever or anything else, so perhaps it is not a big problem. Definitely do have a medical professional look at it and treat it. Hearing is a good thing to be able to do. Right?