This document provides an empirical review of the value of a Facebook fan conducted by Syncapse in June 2010. It examines five key factors that contribute to Facebook fan value: product spending, brand loyalty, propensity to recommend, brand affinity, and earned media value. The study analyzed these factors for 20 top brands and found that on average, Facebook fans spend $71.84 more per year on products, are 28% more loyal, and 41% more likely to recommend products than non-fans. However, fan value varies widely between brands and individual fans. The document provides data on these factors for each brand to demonstrate the differences in fan value.