diff --git a/docs/conf.py b/docs/conf.py
index 1b8a0f5..4ab1e0c 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -17,8 +17,8 @@
 copyright = '2016, the beets project'
 author = 'the beets project'
 
-version = '0.4'
-release = '0.4.0'
+version = '0.5'
+release = '0.5.0'
 
 pygments_style = 'sphinx'
 htmlhelp_basename = 'mediafiledoc'
diff --git a/docs/index.rst b/docs/index.rst
index c7589cd..b1d984f 100644
--- a/docs/index.rst
+++ b/docs/index.rst
@@ -100,6 +100,13 @@ Internals
 Changelog
 ---------
 
+v0.5.0
+''''''
+
+- Refactored the distribution to use `Flit`_.
+
+.. _Flit: https://flit.readthedocs.io/
+
 v0.4.0
 ''''''
 
diff --git a/mediafile.py b/mediafile.py
index 617eeb1..8896aab 100644
--- a/mediafile.py
+++ b/mediafile.py
@@ -56,7 +56,7 @@
 import six
 
 
-__version__ = '0.4.0'
+__version__ = '0.5.0'
 __all__ = ['UnreadableFileError', 'FileTypeError', 'MediaFile']
 
 log = logging.getLogger(__name__)