Kyra Sedgewick, Sosie Bacon and Kevin BaconJason Merritt/Getty Images

Congratulations, Sosie Bacon! The daughter of Kevin Bacon and Kyra Sedgwick was just named Miss Golden Globe 2014 by the Hollywood Foreign Press Association during the reveal party at Fig & Olive in West Hollywood, and she will make her Golden Globes debut onstage during the upcoming 71st annual award show. So what exactly does this mean for Sosie? Traditionally, each year, a daughter (or son) from one of Hollywood’s bold name families is chosen and given the honor of handing out Golden Globe statuettes to winning actors during the ceremony, and did we mention she gets to wear a stunning gown? The honor can be seen as a coming out party, as it launches the young woman into the limelight and places her in an elite club of previous Miss Golden Globes girls, which includes last year’s Francesca Fisher-Eastwood (daughter of Clint Eastwood and Frances Fisher), Rumer Willis (daughter of Bruce Willis and Demi Moore in 2008), Fifty Shades of Grey‘s new star, Dakota Johnson in 2007 (daughter of Don Johnson and Melanie Griffith, who also held the title back in 1975), and Scott Eastwood‘s sister, Kathryn, who was given the honor back in 2005. You may have already seen Sosie on the silver screen, her first role was in 2005′s Loverboy directed by her father when she was just ten-years-old and starred opposite her mother in the TV series, The Closer as Deputy Chief Brenda Leigh Johnson’s niece, Charlie. Catch Sosie during the 71st annual Golden Globe Awards airing live on Sunday, January 12, 2014.

Plus, see what everyone wore to last year's Golden Globes!

2013 Golden Globes

MORE:
Tina Fey and Amy Poehler Are Hosting the Golden Globes!
• Go Backstage at the 2013 Golden Globes
• See Kyra Sedgwick’s Best Looks Ever