This chapter explores how three Scandinavian legacy media companies have reinvented their business models to focus on creating value for digital subscribers. They have developed similar strategies to measure value, for instance, with tailor-made analytical systems that are attuned to the editorial goals of the newsroom. In general, metrics-based audience behaviour measurement has become the main tool for making data-informed and data-driven decisions on what type of content should be on offer to the audience. However, we point to the need for a more sophisticated understanding of “authentic” audience engagement with both quantitative and qualitative elements. We underline the need for value creation strategies and data literacy that involve all journalists, not just those at the management level. The chapter contributes to the literature on audience engagement particularly by demystifying the concept through practical applications of successful editorial strategies. We see that value creation for both the audience and the organisation should be at the core of journalism. We define value in a broad sense; the idea that a better-informed citizenry is a prerequisite for a well-functioning democracy. News media delivering value to the society will gain in economic terms through strong engagement from readers that can be monetised.