An adaptive speaker compensation system and method, such as for use in a multimedia computer, stores speaker response filter coefficients for each speaker and adaptively compensates received audio for non-linear speaker characteristics based on the stored speaker response filter coefficients. The speaker response filter coefficients preferably represent an inverse response of a speaker response curve for each speaker in the audio system. Preferably a library memory containing prestored speaker characteristic data, such as the speaker response filter coefficients, is selectively accessed by the adaptive speaker compensation system to download the speaker response filter coefficients based on identification of a speaker type and channel for which the speaker is being used.