Some speakers (Sonos comes to mind) have a "night mode" that basically does that, compressing the dynamic range. There is also a dialogue mode that emphasizes the human speech frequencies.
I really dislike post production dynamic equalisers because they’re altering the sound in a way that wasn’t intended. Sure it sometimes sounds better, but it doesn’t always. You get a lot better results when the compression is added to the tracks before they’re rendered down to a single master.
Apple TV has a similar feature, described simply as "reduce loud sounds".