diff --git a/edx_event_bus_redis/__init__.py b/edx_event_bus_redis/__init__.py
index da95f68..a083009 100644
--- a/edx_event_bus_redis/__init__.py
+++ b/edx_event_bus_redis/__init__.py
@@ -5,6 +5,6 @@
 from edx_event_bus_redis.internal.consumer import RedisEventConsumer
 from edx_event_bus_redis.internal.producer import create_producer
 
-__version__ = '0.4.0'
+__version__ = '0.5.0'
 
 default_app_config = 'edx_event_bus_redis.apps.EdxEventBusRedisConfig'  # pylint: disable=invalid-name