It seems like power factor correction to me. Easy to achieve at a fixed frequency (50Hz/60Hz) but not across 10 octaves of audio! The inductive component of a loudspeaker doesn't actually waste power, as it is driven from an amplifier which can be thought of is a DC to AC converter.It's a circuit with an inductance and capacitance in one of two possible connections, and for the purpose of conserving generated power.
There are plenty of circuits which will "linearise" a loudspeaker load, making it look like a resistor, but most tests confirm that the amplifier produces lower distortion if it is driving an inductor.