I have a subscription in my name/email for family premium with my wife and kids. My wife found through our at&t cell plan at we can get a discount through them. If my wife switched to be the acct holder, would my kids lose their playlists and such? Or is there a way to keep them?
You can’t change the manager of a Premium Family plan, but the current manager can cancel. Then, when all accounts go back to the free service at the next billing date, a new manager can start a new plan.
Changing your subscription doesn't affect your music. All the account details will remain the same for every account, including saved music and playlists. It's just the subscription status that will change to free. Then you can subscribe to Premium Family again with your wife as a manager.