diff --git a/sdk/storage/azure-storage-blobs/CHANGELOG.md b/sdk/storage/azure-storage-blobs/CHANGELOG.md
index e76b31fc4..bbc3e87f8 100644
--- a/sdk/storage/azure-storage-blobs/CHANGELOG.md
+++ b/sdk/storage/azure-storage-blobs/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 12.7.0-beta.1 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 12.6.1 (2022-09-16)
 
 ### Other changes
diff --git a/sdk/storage/azure-storage-blobs/src/private/package_version.hpp b/sdk/storage/azure-storage-blobs/src/private/package_version.hpp
index 05e75d177..6f21bf905 100644
--- a/sdk/storage/azure-storage-blobs/src/private/package_version.hpp
+++ b/sdk/storage/azure-storage-blobs/src/private/package_version.hpp
@@ -9,9 +9,9 @@
 #pragma once
 
 #define AZURE_STORAGE_BLOBS_VERSION_MAJOR 12
-#define AZURE_STORAGE_BLOBS_VERSION_MINOR 6
-#define AZURE_STORAGE_BLOBS_VERSION_PATCH 1
-#define AZURE_STORAGE_BLOBS_VERSION_PRERELEASE ""
+#define AZURE_STORAGE_BLOBS_VERSION_MINOR 7
+#define AZURE_STORAGE_BLOBS_VERSION_PATCH 0
+#define AZURE_STORAGE_BLOBS_VERSION_PRERELEASE "beta.1"
 
 #define AZURE_STORAGE_BLOBS_VERSION_ITOA_HELPER(i) #i
 #define AZURE_STORAGE_BLOBS_VERSION_ITOA(i) AZURE_STORAGE_BLOBS_VERSION_ITOA_HELPER(i)