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The pros and cons of SOPA and PIPA are discussed in this article. There is also an alternative introduced in this website about the OPEN Act.

Media Privacy, copyright infringement is what PIPA and SOPA is about. they want to block certain domains like the pirate bay and mega upload from giving away movies and music. Even payperview fights are on the pirate bay. for example, if comcast or century link didn't want you to access piratebay.org they could block it but there is still a way to get to the website through other ways so PIPA and SOPA had to drop it.

This article explains how unsettling it can be if a company is given the right to regulate certain sites users view such as letting them, "block or slow specific sites like YouTube to deliver their content faster to users."