diff --git a/README.md b/README.md
index e7b940b5..b28118ae 100644
--- a/README.md
+++ b/README.md
@@ -15,7 +15,7 @@ The package can be installed by adding `membrane_video_compositor_plugin` to you
 ```elixir
 def deps do
   [
-    {:membrane_video_compositor_plugin, "~> 0.6.0"}
+    {:membrane_video_compositor_plugin, "~> 0.7.0"}
   ]
 end
 ```
diff --git a/mix.exs b/mix.exs
index 4e379881..40dcde70 100644
--- a/mix.exs
+++ b/mix.exs
@@ -1,7 +1,7 @@
 defmodule Membrane.VideoCompositor.Mixfile do
   use Mix.Project
 
-  @version "0.6.0"
+  @version "0.7.0"
   @github_url "https://github.com/membraneframework/membrane_video_compositor_plugin"
 
   def project do