Sounds like Microsoft has finally succumbed to the cries of many an Xbox 360 family, as they are set to launch a new Xbox Live Gold Family Pack subscription. Basically, rather than having a bunch of individual accounts on your console and having to manage them all separately, you get four Xbox Live Gold accounts for $99.99. That’s half price. There will also be a Family Center area where you can manage settings for each account from the primary account. The primary account can even purchase and give Microsoft Points to the other members of the family, and access monitoring reports. Here’s the rundown:

• Up to four individual Xbox LIVE Gold memberships for the price of two – (US) $99.99.
• Family Center – a single, easy to use, destination for Family Settings and account management, accessible on the Xbox dashboard and on Xbox.com.
• The primary account member has the ability to purchase and dispense Microsoft Points to other Xbox LIVE Gold Family Pack members.
• Activity monitoring reports viewable on Xbox.com to help encourage discussions about safer more balanced gaming and entertainment habits.
• Simplified billing that applies all purchase charges to the primary account holder’s billing account and the ability to authorize purchases, helping to manage the family’s entertainment budget.
• Exclusive family content and discounts.

We’ve gotta give Microsoft some credit for finally releasing the Xbox Live Gold Family Pack. We are guessing it will arrive as part of a dashboard update for the Xbox 360 in conjunction with the release of Kinect.