It is possible. Look at the current state of events.
Everyone already pays wildly differing costs for different access speeds/types, so the different levels of service idea is nearly in place.
Think of your office network, only on a grand scale, with people paid to watch what is coming through the pipe. My office has about 20 people in it and I can monitor where they are going and what they are doing with little effort, and I am only one person.
I'm wondering how much the RIAA and the MPAA are involved in this behind the scenes. Their current tactic of 'sue the world' has been wildly successful, so why not support an effort to stop it at the server?