WSJ.com is making more than $200 million from advertising and subscriptions, News Corp Chairman and CEO Rupert Murdoch told analysts during the company’s earnings call. He said the site is making “probably $100 million in subscriptions and certainly over $100 million in advertising.”  This time last year, Murdoch was still testing waters on freeing WSJ.com; now safe to say he’s a subscription evangelist. WSJ.com is the “one web site ... people are happy to pay for.”

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Print subscribers—and probably online, although he didn’t specify—are looking at rate increases over the next three years. Those increases will take a while to show up in revenues. Murdoch: “It takes time to work its way through. Advertising is not down a lot. It is certainly a bit below what we budgeted. ... Today and tomorrow it’s on target.” He said to expect “even more emphasis than normal on international expansion” and that the big hope in Asia “certainly is putting our web site on mobile.”

Update: Meant to add this earlier .. Murdoch also talked about WSJ.com and WSJ as only half the story. The other half would be the part author Michael Wolff told our FOBM conference Murdoch wasn’t really aware of when he went after Dow Jones (NYSE: NWS). Murdoch: “The other half is the special news services, the indexes ... and very specialized financial services which we keep developing.” He said those matter even more now “because of the state of the financial industry in this country” and that “we are putting even more emphasis than normal on international expansion.”

Photo credit: spcummings