diff --git a/CHANGELOG.md b/CHANGELOG.md
index 5863b9f20b..a91fd63833 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,8 @@
 ## Changelog
 
+### next
+* Added `onPlaybackRateChange` to README [#1578](https://github.com/react-native-community/react-native-video/pull/1578)
+
 ### Version 4.4.1
 * Fix tvOS picture-in-picture compilation regression [#1518](https://github.com/react-native-community/react-native-video/pull/1518)
 * fullscreen rotation issues with iOS built-in controls [#1441](https://github.com/react-native-community/react-native-video/pull/1441)
diff --git a/README.md b/README.md
index 1527448758..b5f99f218b 100644
--- a/README.md
+++ b/README.md
@@ -303,6 +303,7 @@ var styles = StyleSheet.create({
 * [onLoad](#onload)
 * [onLoadStart](#onloadstart)
 * [onPictureInPictureStatusChanged](#onpictureinpicturestatuschanged)
+* [onPlaybackRateChange](#onplaybackratechange)
 * [onProgress](#onprogress)
 * [onSeek](#onseek)
 * [onRestoreUserInterfaceForPictureInPictureStop](#onrestoreuserinterfaceforpictureinpicturestop)
@@ -969,6 +970,23 @@ isActive: true
 
 Platforms:  iOS
 
+#### onPlaybackRateChange
+Callback function that is called when the rate of playback changes - either paused or starts/resumes.
+
+Property | Type | Description
+--- | --- | ---
+playbackRate | number | 0 when playback is paused, 1 when playing at normal speed. Other values when playback is slowed down or sped up
+
+Example:
+```
+{
+  playbackRate: 0, // indicates paused
+}
+```
+
+Platforms: all
+
+
 #### onProgress
 Callback function that is called every progressUpdateInterval seconds with info about which position the media is currently playing.