The article is dedicated to an overview of English-language fan studies as an interdisciplinary research area. In particular, it discusses trends in the development of fan studies, various approaches to the conceptualization of fandom and fans, as well as the phenomenon of “aca-fans” and the specifics of research ethics in fan studies. The author traces the complex path of formation and transformation of fan studies into an independent subdiscipline recognized by the academic community. This path is marked by a series of “waves,” which reflect both different approaches to understanding the subject of study and changes in the status of fan studies as such. The spread of fan practices and communities emerging around objects of mass culture contributed to their normalization and mainstreaming. Fan studies also demonstrates changes in its focus: the issue of stigmatization of fans is receding into the background, and fandom analysis in the context of social inequality, participatory culture and media consumption is becoming relevant. Contemporary discussions within fan studies are aimed at rethinking the key notions and searching for new interpretations and concepts that overcome the limitations of previous approaches. One of the main topics of discussion is whether the focus of fan studies is still on the fan community (a tradition started by Henry Jenkins) or whether it also includes individual fans. In addition to revising the concepts and boundaries of the subject field, the article addresses methodological and ethical problems in this area. Particular attention is paid to the position of “aca-fans”, belonging to both the academia and the fan world. The article also shows how the perspective of fan studies is beginning to be applied in related social science disciplines. Since many communities and movements (political, consumer, cultural, etc.) function in some ways similar to fandom, turning to fan studies theories can deepen our understanding of these phenomena.