Niche:

A specialization that helps define a stable, consistent customer base for a venue. Smart venues interested in long term, e.g. sustainable success work to find and develop a niche, perhaps catering to fans of a specific kind of music, demographic, neighborhood, crowd, aesthetic, etc.  They may also choose to distinguish themselves with a specific kind of food or drink, for example.. anything to bring customers in.  Smart venues do this in addition to hiring great talent; synergy is far preferable to The Double Whammy.