This isn't really Virgin Media news as it would be relevant to all TV platforms in the UK.
The problem with the subscription option for the BBC is that to that you'll then have to put the BBC content behind some form of broadcast restriction for it to work. I wouldn't even know how you'd do that for radio.
So potentially you could end up with ITV, Channel 4 and Channel 5 on Freeview, but the BBC channels not.
So to turn the BBC into a subscription service would require a complete rethink of the PSB channels in the UK, what is 'free to view' and how.
It's also not only the BBC that gets funding from the licence fee - S4C is due to get all of it's funding from it shortly
https://www.bbc.co.uk/news/uk-wales-politics-43569372