The thermophone, conceived in 1917 by Arnold and Crandall, was a unique thermoacoustic loudspeaker. The high heat capacity per unit area (HCPUA) of thin-film materials at that time limited the usefulness of thermophones. Recently, researchers of carbon nanotubes (CNTs) have developed techniques to create a super-aligned thin-film of multi-walled CNTs, possessing extremely low HCPUA. This paper will discuss CNT thin-film loudspeaker theory as well as some initial investigations into the feasibility of a high-powered audio CNT speaker. The advantages of such a loudspeaker include: Ultra-lightweight, compact, no moving parts, low cost, and independence from expensive rare-earth materials.