One embodiment provides a technique for dynamically adjusting streaming media bit rates in response to user requests for accelerated playback. A user request to increase a playback speed at which the units of digital content are played back on a content player is received. Upon receiving the user request to increase the playback speed, while previously downloaded units of the digital content having a first bit rate are being output for display, and prior to downloading a next unit of digital content from a content server, embodiments determine that the increased playback speed cannot be maintained without buffer underrun if subsequent units of digital content are downloaded from the content server at the first bit rate. A second bit rate, lower than the first bit rate, is determined and the next unit of digital content is downloaded from the content server for playback at the second bit rate.