diff --git a/NEWS b/NEWS
index b541a2747df5a0aacbb4c9dbd1fdb9d6964a077c..54f8557328a5804085230b5493d137a1362c2890 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,16 @@
+Changes for 1.3.0 'Tundra Peregrine Falcon (Calidus)':
+------------------------------------------------------
+
+1.3.0 is a medium release of dav1d, focus on new APIs and memory usage reduction.
+
+- Reduce memory usage in numerous places
+- ABI break in Dav1dSequenceHeader, Dav1dFrameHeader, Dav1dContentLightLevel structures
+- new API function to check the API version: dav1d_version_api()
+- Rewrite of the SGR functions for ARM64 to be faster
+- NEON implemetation of save_tmvs for ARM32 and ARM64
+- x86 palette DSP for pal_idx_finish function
+
+
 Changes for 1.2.1 'Arctic Peregrine Falcon':
 -------------------------------------------
 
diff --git a/meson.build b/meson.build
index 1104aef9b98c7716e917435789ef86f6cd6cea6a..2b88f3c45d019896a8fe023cffa173f7d1c70104 100644
--- a/meson.build
+++ b/meson.build
@@ -23,7 +23,7 @@
 # SOFTWARE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.
 
 project('dav1d', ['c'],
-    version: '1.2.1',
+    version: '1.3.0',
     default_options: ['c_std=c99',
                       'warning_level=2',
                       'buildtype=release',