diff --git a/CMakeLists.txt b/CMakeLists.txt
index d114a841..489c854f 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -15,7 +15,7 @@ set(WPE_API_VERSION "1.0")
 # - If binary compatibility has been broken (eg removed or changed interfaces)
 #   change to C+1:0:0
 # - If the interface is the same as the previous version, change to C:R+1:A
-calculate_library_versions_from_libtool_triple(LIBWPE 10 3 9)
+calculate_library_versions_from_libtool_triple(LIBWPE 10 4 9)
 
 project(libwpe VERSION "${PROJECT_VERSION}")
 
diff --git a/NEWS b/NEWS
index 1d544fa6..e4440112 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,11 @@
+=========================
+1.16.1 - January 21, 2025
+=========================
+
+- Add support for non-discrete gamepad button values. This allows
+  representing button pressure sensitivity for devices with analog
+  button inputs.
+
 =======================
 1.16.0 - March 21, 2024
 =======================
diff --git a/include/wpe/libwpe-version.h b/include/wpe/libwpe-version.h
index b0593a45..01a50d64 100644
--- a/include/wpe/libwpe-version.h
+++ b/include/wpe/libwpe-version.h
@@ -29,6 +29,6 @@
 
 #define WPE_MAJOR_VERSION 1
 #define WPE_MINOR_VERSION 16
-#define WPE_MICRO_VERSION 0
+#define WPE_MICRO_VERSION 1
 
 #endif /* !LIBWPE_VERSION_H */
diff --git a/meson.build b/meson.build
index 21deb6cb..5f3d08ef 100644
--- a/meson.build
+++ b/meson.build
@@ -21,7 +21,7 @@ api_version = '1.0'
 # - If binary compatibility has been broken (eg removed or changed interfaces)
 #   change to [C+1, 0, 0]
 # - If the interface is the same as the previous version, use [C, R+1, A].
-soversion = [10, 3, 9]
+soversion = [10, 4, 9]
 
 # Mangle [C, R, A] into an actual usable *soversion*.
 soversion_major = soversion[0] - soversion[2]  # Current-Age