Family Sharing for App Store Subscriptions Now Available
iPhone and iPad users who share apps with their families through Apple's Family Sharing feature can now share subscription apps as well.

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.
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Top Rated Comments
[LIST=1]
* Both subscriptions and in-app purchases are supported
* Developers need to explicitly enable sharing for each subscription/IAP
* The 'Share New Subscriptions' allows newly started subscriptions to automatically be shared with family members
* Existing subscriptions can also be shared, but these need to be enabled individually under each subscription (see attached). If a sub isn't shareable, then this option won't appear.
PS - If you're an Infuse user you can take advantage of this right now. :)