diff --git a/src/App.jsx b/src/App.jsx
index 685c6e152cc..935a80911dd 100644
--- a/src/App.jsx
+++ b/src/App.jsx
@@ -15,7 +15,6 @@ import Mousetrap from 'mousetrap';
 import JSON5 from 'json5';
 
 import fromPairs from 'lodash/fromPairs';
-import clamp from 'lodash/clamp';
 import sortBy from 'lodash/sortBy';
 import flatMap from 'lodash/flatMap';
 import isEqual from 'lodash/isEqual';
@@ -62,6 +61,7 @@ import {
   hasDuplicates, havePermissionToReadFile, isMac, resolvePathIfNeeded, pathExists, html5ifiedPrefix, html5dummySuffix, findExistingHtml5FriendlyFile,
 } from './util';
 import { formatDuration } from './util/duration';
+import { adjustRate } from './util/rate-calculator';
 import { askForOutDir, askForImportChapters, createNumSegments, createFixedDurationSegments, promptTimeOffset, askForHtml5ifySpeed, askForFileOpenAction, confirmExtractAllStreamsDialog, cleanupFilesDialog, showDiskFull, showCutFailedDialog, labelSegmentDialog, openYouTubeChaptersDialog, showMultipleFilesDialog, showOpenAndMergeDialog, openAbout, showEditableJsonDialog } from './dialogs';
 import { openSendReportDialog } from './reporting';
 import { fallbackLng } from './i18n';
@@ -1232,7 +1232,7 @@ const App = memo(() => {
     }
   }, [filePath, captureFormat, customOutDir, previewFilePath, outputDir, enableTransferTimestamps, hideAllNotifications]);
 
-  const changePlaybackRate = useCallback((dir) => {
+  const changePlaybackRate = useCallback((dir, rateMultiplier) => {
     if (canvasPlayerEnabled) {
       toast.fire({ title: i18n.t('Unable to change playback rate right now'), timer: 1000 });
       return;
@@ -1242,8 +1242,7 @@ const App = memo(() => {
     if (!playing) {
       video.play();
     } else {
-      // https://github.com/mifi/lossless-cut/issues/447#issuecomment-766339083
-      const newRate = clamp(Math.round((video.playbackRate + (dir * 0.15)) * 100) / 100, 0.1, 16);
+      const newRate = adjustRate(video.playbackRate, dir, rateMultiplier);
       toast.fire({ title: `${i18n.t('Playback rate:')} ${Math.round(newRate * 100)}%`, timer: 1000 });
       video.playbackRate = newRate;
     }
@@ -1674,7 +1673,9 @@ const App = memo(() => {
     const togglePlayNoReset = () => togglePlay();
     const togglePlayReset = () => togglePlay(true);
     const reducePlaybackRate = () => changePlaybackRate(-1);
+    const reducePlaybackRateMore = () => changePlaybackRate(-1, 2.0);
     const increasePlaybackRate = () => changePlaybackRate(1);
+    const increasePlaybackRateMore = () => changePlaybackRate(1, 2.0);
     function seekBackwards() {
       seekRel(keyboardNormalSeekSpeed * seekAccelerationRef.current * -1);
       seekAccelerationRef.current *= keyboardSeekAccFactor;
@@ -1707,7 +1708,9 @@ const App = memo(() => {
     mousetrap.bind('space', () => togglePlayReset());
     mousetrap.bind('k', () => togglePlayNoReset());
     mousetrap.bind('j', () => reducePlaybackRate());
+    mousetrap.bind('shift+j', () => reducePlaybackRateMore());
     mousetrap.bind('l', () => increasePlaybackRate());
+    mousetrap.bind('shift+l', () => increasePlaybackRateMore());
     mousetrap.bind('z', () => toggleComfortZoom());
     mousetrap.bind(',', () => seekBackwardsShort());
     mousetrap.bind('.', () => seekForwardsShort());
diff --git a/src/HelpSheet.jsx b/src/HelpSheet.jsx
index 58577c36c7a..33ceba82dfd 100644
--- a/src/HelpSheet.jsx
+++ b/src/HelpSheet.jsx
@@ -44,6 +44,8 @@ const HelpSheet = memo(({ visible, onTogglePress, ffmpegCommandLog, currentCutSe
         <div><kbd>SPACE</kbd>, <kbd>k</kbd> {t('Play/pause')}</div>
         <div><kbd>J</kbd> {t('Slow down playback')}</div>
         <div><kbd>L</kbd> {t('Speed up playback')}</div>
+        <div><kbd>SHIFT</kbd> + <kbd>J</kbd> {t('Slow down playback more')}</div>
+        <div><kbd>SHIFT</kbd> + <kbd>L</kbd> {t('Speed up playback more')}</div>
 
         <h2>{t('Seeking')}</h2>
 
diff --git a/src/util/rate-calculator.js b/src/util/rate-calculator.js
new file mode 100644
index 00000000000..508aaa80e74
--- /dev/null
+++ b/src/util/rate-calculator.js
@@ -0,0 +1,37 @@
+import clamp from 'lodash/clamp';
+
+/**
+ * @constant {number}
+ * @default
+ * The default playback rate multiplier is used to adjust the current playback
+ * rate when no additional modifiers are applied. This is set to ∛2 so that striking
+ * the fast forward key (`l`) three times speeds playback up to twice the speed.
+ */
+export const DEFAULT_PLAYBACK_RATE = (2 ** (1 / 3));
+
+/**
+ * Adjusts the current playback rate up or down
+ * @param {number} playbackRate current playback rate
+ * @param {number} direction positive for forward, negative for reverse
+ * @param {number} [multiplier] rate multiplier, defaults to {@link DEFAULT_PLAYBACK_RATE}
+ * @returns a new playback rate
+ */
+export function adjustRate(playbackRate, direction, multiplier) {
+  const m = multiplier || DEFAULT_PLAYBACK_RATE;
+  const factor = direction > 0 ? m : (1 / m);
+  let newRate = playbackRate * factor;
+  // If the multiplier causes us to go faster than real time or slower than real time,
+  // stop along the way at 1.0. This could happen if the current playbackRate was reached
+  // using a different multiplier (e.g., holding the shift key).
+  // https://github.com/mifi/lossless-cut/issues/447#issuecomment-766339083
+  if ((newRate > 1.0 && playbackRate < 1.0) || (newRate < 1.0 && playbackRate > 1.0)) {
+    newRate = 1.0;
+  }
+  // And, clean up any rounding errors that get us to almost 1.0 (e.g., treat 1.00001 as 1)
+  if ((newRate > (m ** (-1 / 2))) && (newRate < (m ** (1 / 2)))) {
+    newRate = 1.0;
+  }
+  return clamp(newRate, 0.1, 16);
+}
+
+export default adjustRate;
diff --git a/src/util/rate-calculator.test.js b/src/util/rate-calculator.test.js
new file mode 100644
index 00000000000..d9fc71f6486
--- /dev/null
+++ b/src/util/rate-calculator.test.js
@@ -0,0 +1,44 @@
+import { adjustRate, DEFAULT_PLAYBACK_RATE } from './rate-calculator';
+
+it('inverts for reverse direction', () => {
+  const r = adjustRate(1, -1, 2);
+  expect(r).toBeLessThan(1);
+});
+
+it('uses default rate', () => {
+  const r = adjustRate(1, 1);
+  expect(r).toBe(1 * DEFAULT_PLAYBACK_RATE);
+});
+
+it('allows multiplier override', () => {
+  const r = adjustRate(1, 1, Math.PI);
+  expect(r).toBe(1 * Math.PI);
+});
+
+describe('speeding up', () => {
+  it('sets rate to 1 if close to 1', () => {
+    expect(adjustRate(1 / DEFAULT_PLAYBACK_RATE + 0.01, 1)).toBe(1);
+  });
+
+  it('sets rate to 1 if passing 1 ', () => {
+    expect(adjustRate(0.5, 1, 2)).toBe(1);
+  });
+
+  it('will not play faster than 16', () => {
+    expect(adjustRate(15.999999, 1, 2)).toBe(16);
+  });
+});
+
+describe('slowing down', () => {
+  it('sets rate to 1 if close to 1', () => {
+    expect(adjustRate(DEFAULT_PLAYBACK_RATE + 0.01, -1)).toBe(1);
+  });
+
+  it('sets rate to 1 if passing 1', () => {
+    expect(adjustRate(1.1, -1, 2)).toBe(1);
+  });
+
+  it('will not play slower than 0.1', () => {
+    expect(adjustRate(0.1111, -1, 2)).toBe(0.1);
+  });
+});