Spotify is making its ad-free subscription service family-friendly by offering to slash premium prices by almost half if subscribers add up to four family members under one billing account.

Spotify, the renowned music streaming service, is bidding to win more consumers by making a compelling offer for families. In an official blog post Monday, the music streaming service introduced Spotify Family that offers steep discounts on connecting up to five members under one billing account. By adding up to four family members to an existing premium account, all subscribers will pay just the half of the original premium subscription.

Spotify's monthly subscription costs $9.99 to eliminate advertisements and add exclusive features. With a premium package, users can listen to music offline and play any song, anytime. By introducing Spotify Family, the company is offering separate accounts for each family member to avoid interruptions. Besides the complete Spotify Premium experience, the new family plan will offer $5 discount to as little as two family members signing up under one account and up to $20 on five sign ups.

"This is one of the most asked for features from our audience," Ken Parks, Spotify's Chief Content Office, said in a press statement. "With today's announcement we're making it easier than ever for the whole family to experience Spotify Premium on their phones, at home and on the go."

According to The Inquirer, the pricing of the Spotify Family in the United States for two members will cost $14.99 and $19.99 for three subscribers. Similarly, if four family members sign up under a single billing account, the total cost will reduce further down to $24.99 and five members will get the maximum discounted price of $29.99.

The new service will also be available for the users in the United Kingdom and other parts of the world in the coming weeks, the company added.

The 50 percent discount on Spotify's subscription prices is a continuation of a similar offer launched for college students in March. By offering attractive discounts, the music streaming service is aiming to expand its paid user-base, which hit 10 million in May.