diff --git a/configure.ac b/configure.ac
index 92166e58..407e2f1b 100644
--- a/configure.ac
+++ b/configure.ac
@@ -8,8 +8,8 @@ dnl release notes as its content.
 dnl Then git push origin v201X.XX.
 dnl Then create the xz tarball from `make -f Makefile.dist-packaging dist-snapshot`.
 dnl Then create a GitHub release for the new release tag and attach the tarball.
-m4_define([year_version], [2019])
-m4_define([release_version], [7])
+m4_define([year_version], [2020])
+m4_define([release_version], [1])
 m4_define([package_version], [year_version.release_version])
 AC_INIT([rpm-ostree], [package_version], [atomic-devel@projectatomic.io])
 AC_CONFIG_HEADER([config.h])
diff --git a/packaging/rpm-ostree.spec.in b/packaging/rpm-ostree.spec.in
index cc555a4b..d0da26e5 100644
--- a/packaging/rpm-ostree.spec.in
+++ b/packaging/rpm-ostree.spec.in
@@ -3,7 +3,7 @@
 
 Summary: Hybrid image/package system
 Name: rpm-ostree
-Version: 2019.7
+Version: 2020.1
 Release: 1%{?dist}
 #VCS: https://github.com/cgwalters/rpm-ostree
 # This tarball is generated via "cd packaging && make -f Makefile.dist-packaging dist-snapshot"