A licence fee and subscription fee and different things. Licence fees are a way of funding public broadcasters, and basically anyone owning a receiver, which may also be able to receive independent broadcasts, must buy a licence which funds the public broadcaster.
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But as a practical matter, before about 1960 or so, they would have been the same thing. The only practical way to control who could watch the "pay" channels would be through control of the equipment.
Most areas would have only a handful of channels, since generating the programming would have been the limiting factor. In the U.S., even large cities had no more than about a half dozen channels. It would have been possible to have some of those channels be incompatible in some way with the others. So the incompatible channels could be "pay" channels and the other ones "free" channels. But even if you could get one set to watch both kinds, it seems to me that the technology to convert from one to the other would be rather expensive. And since there's no good way to change the coding in real time, the "pay" system would really depend on whoever you are paying be the owner of the converter.
In about 1980, my area briefly had one "pay" channel. The scrambling method wasn't particularly sophisticated, so it didn't require much additional equipment in addition to the existing set. But because it was relatively simple, a lot of people figured out that they could make one themselves without much difficulty. For that and other reasons, that channel didn't last long. Slightly more successful was a company that delivered HBO by a microwave transmission. But again, a lot of people figured how how to build the receiver, one of the reasons why it failed.
I think it really requires a fair amount of computing power to scramble a signal in such a way that it can be decoded with inexpensive equipment, but also be difficult or impossible to descramble it without that equipment.
Of course, if the signal is being delivered by cable, then it's a lot easier. If people don't pay, you just send someone out to disconnect the cable. You can even filter out individual channels without much difficulty. You'll probably have a few people sneaking out at night and removing the filters, but in general, it wouldn't be too difficult to add a few pay channels to a system that also had less expensive "free" channels.
But the main problem prior to about 1960 would have been generating the content in the first place. Until magnetic recording became inexpensive enough, you would need the equivalent of at least one TV camera and associated equipment for each channel you wanted to show. Even if you just show movies that you already have on film, I think the method of changing them to video amounted to projecting the film image onto a special camera. Carrying existing channels from distant areas, of course, is also possible. But you're limited to what's within a few hundred miles. And there were really only three or four networks anyway, so once you get those three or four stations, there's not much to add.
Here are some examples of the very earliest cable TV systems. As you see, despite herculean engineering, they really weren't able to carrying more than one or two channels:
http://onetuberadio.com/2015/08/26/tv-comes-to-marathon-ontario-1953/
http://onetuberadio.com/2015/06/18/ellensburg-wa-catv-1955/
If I got sent back in time to about 1950 with a few VCR's, DVD players, or computers, along with a few modern cameras (all of which I could probably get at Goodwill for a few hundred dollars), then it would be a pretty simple matter for me to set up a cable TV system with a few dozen channels. I could mostly use equipment from that time period (taking care to make sure I bring back the few items I need to make it all compatible). And if I wanted, I could use content from that time period, such as movies, local announcers, etc. But without the goodies that I brought back with me, the number of channels I could broadcast simultaneously would be very limited. But without those modern resources, I would be limited to systems similar to the two shown above, where I simply retransmit whatever signal I can get from a few hundred miles away.
In short, even if someone had access to already produced programming in the form of films, it's still requires a lot of infrastructure to turn that into one television signal, no matter how you're going to deliver it. So it doesn't really make sense to fragment the market by having some channels "free" and others "pay". Economically, you really need to do it one way or another. Either it's all free, as in the U.S., or it's all some form of "pay" (such as a licensing fee in the U.K.).