According to a FAQ posted on the Xbox Support website, Xbox Live Gold Family Packs will convert to individual Xbox Live Gold memberships as early as August 27th.
In an attempt to appease those affected, Family Pack members will also receive an additional three months of Gold membership up to 36 months, which will be added to the remaining months of Xbox Live Gold Family Pack membership at conversion. Members will receive an email confirming the new Gold memberships “within approximately one week” of the accounts’ conversion.
Earlier this year, Microsoft stopped selling the Xbox Live Gold Family Pack, which offered a discount to families purchasing multiple Gold memberships.
It should be noted that subscribers will no longer be able to access activity monitoring reports for Xbox Live Gold Family Pack users or exchange Microsoft Points between users.
I reported yesterday, the company is replacing Microsoft Points with real-world currency starting with the next Xbox 360 system update. With that said, each account with Microsoft Points still not converted before the transition will have their balances translated to local currency when users of each account initiate a purchase or redeem a Microsoft Points card.
Only the primary converted Xbox Live Gold account will automatically renew after the transition. Users will need to “add or update the billing information” for each new Xbox Live Gold plan to initiate the auto-renew feature.