Family Sharing for App Store Subscriptions Now Available
In the App Store settings under "Subscriptions," there's a "Share New Subscriptions" setting that appears to be enabled automatically, allowing subscription apps to be shared among family members. The new option is available on the current release version of iOS, iOS 14.2.
Apple announced subscription sharing options as part of iOS 14, iPadOS 14, and macOS Big Sur. Developers are able to decide whether subscriptions should be available to members of a Family Sharing group. Some apps have been implementing the feature, as noted by Ryan Jones on Twitter.
Prior to today, if one member of a family purchased an app that included a subscription benefit, there was no built-in way for those subscription features to be shared with other family members.