diff --git a/README.md b/README.md
index 384f54b..a1a17a7 100644
--- a/README.md
+++ b/README.md
@@ -13,7 +13,7 @@ The package can be installed by adding `ex_sdp` to your list of dependencies in
 ```elixir
 def deps do
   [
-    {:ex_sdp, "~> 0.4.0"}
+    {:ex_sdp, "~> 0.5.0"}
   ]
 end
 ```
diff --git a/mix.exs b/mix.exs
index e39f8fc..f6b7e8d 100644
--- a/mix.exs
+++ b/mix.exs
@@ -1,7 +1,7 @@
 defmodule ExSDP.MixProject do
   use Mix.Project
 
-  @version "0.4.0"
+  @version "0.5.0"
   @github_url "https://github.com/membraneframework/membrane-protocol-sdp"
 
   def project do