Are the scratch marks around L5 from you taking it off? If not, do you know if it has worked since anyone else last opened it up.
That component is far too small to be in the main current path for anything that powers the speaker.
My guess would be that it's part of a boost converter which is there to provide gate drive for some of the MOSFETs. I would also guess that it is very unlikely to be the first item to fail, and that a MOSFET or two failed, causing L5 to burn out.