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Bain & Company has named Daniel Hong as head of its Americas Communications, Media & Entertainment (CME) practice, Axios has learned. 

Why it matters: The appointment comes with an aggressive revenue goal for the consulting firm's CME practice over the next three years.

Details: Hong will continue reporting to Herbert Blum, Bain's global head of CME. 

Speaking from Bain's Bryant Park office, Hong says his biggest challenge in the new role will be maintaining focus amid ambitious growth goals. 

The CME practice doubled revenue from 2020 to 2023, and Hong says the company aims to double it again from 2024 to 2027. 

Catch up quick: Hong joined Bain in 2002, working out of the New York office. He primarily has been based there, with stints in Japan, South Africa, and India. 

Hong says he's long been interested in media. He worked at MGM for a summer while getting his MBA. At Bain, he started working more with media clients around 2008 when the practice began formalizing.

Most recently, he served as sector lead of Bain's advertising sub-sector and worked with ad agencies, diversified media businesses and video game companies.

What to watch: Hong says "convergence is the next wave" in media after the direct-to-consumer boom. He says success could come from bundling media, like TV shows, video games and fitness, under one subscription.

That trend is "intertwined" with Big Tech, which impacts the sector as competitors, customers and partners, Hong says.

Hong says he anticipates large-scale M&A in media this year with expected dealmaking in the video game industry, B2B info services and location-based entertainment.

1 fun fact: Hong's wife, Tevia Segovia, is also a partner at Bain. She leads the payments practice within the Americas.

Exclusive: Bain & Co names new head of Americas media practice

Daniel Hong joined the consulting firm in 2002.

Photo illustration of Daniel Hong with Bain & Company's logo and abstract shapes.

Pictured: Daniel Hong. Photo illustration: Axios Visuals. Photo: Courtesy of Bain & Company

Consulting

Bain &amp; Company has named <a class="gtmContentClick" data-vars-link-text="Daniel Hong" data-vars-click-url="https://www.bain.com/our-team/daniel-hong/" data-vars-content-id="a429c5a3-95e9-40e5-b77f-1c76e3b5881c" data-vars-headline="Exclusive: Bain &amp; Co names new head of Americas media practice" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.bain.com/our-team/daniel-hong/" target="_blank">Daniel Hong</a> as head of its Americas Communications, Media &amp; Entertainment (CME) practice, Axios has learned. Why it matters: The appointment comes with an aggressive revenue goal for the consulting firm&#x27;s CME practice over the next three years.

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Exclusive: Bain & Co names new head of Americas media practice

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