A CEO's strategy at a company can be predicted by their successful tenure elsewhere. For instance, Mark Thompson's successful strategy at the New York Times involved recognizing the shift from ad-supported media to subscription-based models, making acquisitions, and putting content behind a paywall. This transformation increased the company's subscription revenue from a quarter to over 50 percent, leading to higher earnings and an increased multiple on those earnings. Investors favor subscription revenue over ad revenue as subscriptions are more stable and have a lower cancellation rate. Additionally, offering new content and services can further enhance subscription revenue.