diff --git a/RELEASENOTES.md b/RELEASENOTES.md
index 891706fbf1..97edd2b5af 100644
--- a/RELEASENOTES.md
+++ b/RELEASENOTES.md
@@ -8,12 +8,7 @@
 * UI components:
   * Add support for listening to `AspectRatioFrameLayout`'s aspect ratio update
     ([#3736](https://github.com/google/ExoPlayer/issues/3736)).
-* Gradle: Replace 'compile' configuration (deprecated) with 'implementation' and
-  'api'. Note: This may lead to build breakage for applications upgrading from
-  previous version that rely on indirect dependency for certain modules. In such
-  cases, application developers need to add the missing dependency directly to
-  resolve this issue. You can read more about the new dependency configurations
-  [here](https://developer.android.com/studio/build/gradle-plugin-3-0-0-migration.html#new_configurations).
+  * Add PlayerNotificationManager.
 * Downloading: Add `DownloadService`, `DownloadManager` and
   related classes ([#2643](https://github.com/google/ExoPlayer/issues/2643)).
 * MediaSources:
@@ -23,21 +18,27 @@
   * Merged `DynamicConcatenatingMediaSource` into `ConcatenatingMediaSource` and
     deprecated `DynamicConcatenatingMediaSource`.
   * Allow clipping of child media sources where the period and window have a
-    non-zero offset with `ClippingMediaSource`
-    ([#3888](https://github.com/google/ExoPlayer/issues/3888)).
-  * HlsMediaSource: make HLS periods start at zero instead of the epoch.
-    Note: applications that rely on HLS timelines having a period starting at
-    the epoch will need to update their handling of HLS timelines. The program
-    date time is still available via the informational
-    `Timeline.Window.windowStartTimeMs` field
-    ([#3865](https://github.com/google/ExoPlayer/issues/3865)).
-  * Allow adding and removing `MediaSourceEventListener`s to MediaSources after
-    they have been created.
+    non-zero offset with `ClippingMediaSource`.
+
+### 2.7.1 ###
+
+* Gradle: Replaced 'compile' (deprecated) with 'implementation' and
+  'api'. This may lead to build breakage for applications upgrading from
+  previous version that rely on indirect dependencies of certain modules. In
+  such cases, application developers need to add the missing dependency to
+  their gradle file. You can read more about the new dependency configurations
+  [here](https://developer.android.com/studio/build/gradle-plugin-3-0-0-migration.html#new_configurations).
+* HlsMediaSource: Make HLS periods start at zero instead of the epoch.
+  Applications that rely on HLS timelines having a period starting at
+  the epoch will need to update their handling of HLS timelines. The program
+  date time is still available via the informational
+  `Timeline.Window.windowStartTimeMs` field
+  ([#3865](https://github.com/google/ExoPlayer/issues/3865),
+  [#3888](https://github.com/google/ExoPlayer/issues/3888)).
 * Enable seeking in MP4 streams where duration is set incorrectly in the track
   header ([#3926](https://github.com/google/ExoPlayer/issues/3926)).
-* Video: force rendering a frame periodically in `MediaCodecVideoRenderer` and
+* Video: Force rendering a frame periodically in `MediaCodecVideoRenderer` and
   `LibvpxVideoRenderer`, even if it is late.
-* Add PlayerNotificationManager.
 
 ### 2.7.0 ###
 
diff --git a/constants.gradle b/constants.gradle
index a32aa2e8ab..3e75567231 100644
--- a/constants.gradle
+++ b/constants.gradle
@@ -13,8 +13,8 @@
 // limitations under the License.
 project.ext {
     // ExoPlayer version and version code.
-    releaseVersion = '2.7.0'
-    releaseVersionCode = 2700
+    releaseVersion = '2.7.1'
+    releaseVersionCode = 2701
     // Important: ExoPlayer specifies a minSdkVersion of 14 because various
     // components provided by the library may be of use on older devices.
     // However, please note that the core media playback functionality provided
diff --git a/library/core/src/main/java/com/google/android/exoplayer2/ExoPlayerLibraryInfo.java b/library/core/src/main/java/com/google/android/exoplayer2/ExoPlayerLibraryInfo.java
index 1dec506ec9..c34145a145 100644
--- a/library/core/src/main/java/com/google/android/exoplayer2/ExoPlayerLibraryInfo.java
+++ b/library/core/src/main/java/com/google/android/exoplayer2/ExoPlayerLibraryInfo.java
@@ -27,27 +27,23 @@ public final class ExoPlayerLibraryInfo {
    */
   public static final String TAG = "ExoPlayer";
 
-  /**
-   * The version of the library expressed as a string, for example "1.2.3".
-   */
+  /** The version of the library expressed as a string, for example "1.2.3". */
   // Intentionally hardcoded. Do not derive from other constants (e.g. VERSION_INT) or vice versa.
-  public static final String VERSION = "2.7.0";
+  public static final String VERSION = "2.7.1";
 
-  /**
-   * The version of the library expressed as {@code "ExoPlayerLib/" + VERSION}.
-   */
+  /** The version of the library expressed as {@code "ExoPlayerLib/" + VERSION}. */
   // Intentionally hardcoded. Do not derive from other constants (e.g. VERSION) or vice versa.
-  public static final String VERSION_SLASHY = "ExoPlayerLib/2.7.0";
+  public static final String VERSION_SLASHY = "ExoPlayerLib/2.7.1";
 
   /**
    * The version of the library expressed as an integer, for example 1002003.
-   * <p>
-   * Three digits are used for each component of {@link #VERSION}. For example "1.2.3" has the
+   *
+   * <p>Three digits are used for each component of {@link #VERSION}. For example "1.2.3" has the
    * corresponding integer version 1002003 (001-002-003), and "123.45.6" has the corresponding
    * integer version 123045006 (123-045-006).
    */
   // Intentionally hardcoded. Do not derive from other constants (e.g. VERSION) or vice versa.
-  public static final int VERSION_INT = 2007000;
+  public static final int VERSION_INT = 2007001;
 
   /**
    * Whether the library was compiled with {@link com.google.android.exoplayer2.util.Assertions}