diff --git a/CHANGELOG.md b/CHANGELOG.md
index 2d8755e4..ee4b6367 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -3,10 +3,20 @@
 ## Unreleased (on "next" branch)
 
 ### Added
+
+### Changed
+
+## 0.3.24 Beta Release 23
+
+### Added
+
 * FfmpegOutput support custom audio filter
 
 ### Changed
 
+* Updated for newer version of PyAV which we can use to encode
+  more efficiently.
+
 ## 0.3.23 Beta Release 22
 
 ### Added
diff --git a/setup.py b/setup.py
index 4a4c0f6c..f7b98801 100644
--- a/setup.py
+++ b/setup.py
@@ -11,7 +11,7 @@
 
 setup(
     name='picamera2',
-    version='0.3.23',
+    version='0.3.24',
     description='The libcamera-based Python interface to Raspberry Pi cameras, based on the original Picamera library',
     long_description=long_description,
     long_description_content_type='text/markdown',