Oldie’s nightclub failing to start developing this! (4-5,5)

I believe the answer is:

blue-light disco

I'm a little stuck... Click here to teach me more about this clue!

'this' is the definition.
I know nothing about this answer so I can't tell whether it can be defined by this definition.

'oldie's nightclub failing to start developing' is the wordplay.
'failing to start' means to remove the first letter.
'developing' is an anagram indicator.
'nightclub' with its first letter taken away is 'ightclub'.
'oldies'+'ightclub'='oldiesightclub'
'oldiesightclub' is an anagram of 'BLUE-LIGHT DISCO'.

Can you help me to learn more?

I've seen this clue in the Sydney Morning Herald.

Want a hint initially instead of a full solution? Install my app