Although the movie and music industry is seriously looking for ways to make their content available online, torrentspy just isn’t the best option, rather the worst. The main disadvantage that torrentspy has however, is that it also lists A LOT of unauthorized content and pron, not really the kind of content that big movie and music companies want to be associated with I think (no matter what filters they apply). On the other hand, several big and smaller companies would love to spread authorized content if they got the opportunity so torrentspy is not the only player on that market. If torentspy wants to “go legal” and distribute authorized music and movies they will probably have to say goodbye to their current visitors, and start all over.
Another “legal” goal that torrentspy has is to list game patches, mods, shareware, trialware, driver updates, etc. This shouldn’t be a problem but this is not really a revolutionary idea. There are a lot of sites that are specialized in delivering these kind of files.