diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index d6bb387..57fdb73 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  "launchdarkly-server-sdk": "2.3.0"
+  "launchdarkly-server-sdk": "2.4.0"
 }
diff --git a/launchdarkly-server-sdk/CHANGELOG.md b/launchdarkly-server-sdk/CHANGELOG.md
index e04d1d3..bf3249d 100644
--- a/launchdarkly-server-sdk/CHANGELOG.md
+++ b/launchdarkly-server-sdk/CHANGELOG.md
@@ -2,6 +2,13 @@
 
 All notable changes to the LaunchDarkly Rust server-side SDK will be documented in this file. This project adheres to [Semantic Versioning](http://semver.org).
 
+## [2.4.0](https://github.com/launchdarkly/rust-server-sdk/compare/2.3.0...2.4.0) (2024-12-05)
+
+
+### Features
+
+* Add option to enable compression of event payloads ([#102](https://github.com/launchdarkly/rust-server-sdk/issues/102)) ([5cc7aac](https://github.com/launchdarkly/rust-server-sdk/commit/5cc7aacc3ce641f94faffa06f24ac5cbeff08ce6))
+
 ## [2.3.0](https://github.com/launchdarkly/rust-server-sdk/compare/2.2.1...2.3.0) (2024-10-24)
 
 
diff --git a/launchdarkly-server-sdk/Cargo.toml b/launchdarkly-server-sdk/Cargo.toml
index a82942c..1fdf68b 100644
--- a/launchdarkly-server-sdk/Cargo.toml
+++ b/launchdarkly-server-sdk/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "launchdarkly-server-sdk"
 description = "LaunchDarkly Server-Side SDK"
-version = "2.3.0"
+version = "2.4.0"
 authors = ["LaunchDarkly"]
 edition = "2021"
 rust-version = "1.74.0"  # MSRV