noun; a sub genre of alternative rock characterized by obscure and semi obscure musicians popular on US college radio typically listened to by art students and the hipster scene.
Artists include Will Oldham, White Magic, Modest Mouse (before they sold out) and Godspeed You! Black Emperor. Labels include Drag City and Kranky.
Travis: "Hey, we're heading to The Smell later, some new Sub Pop band is playing"
Elliot: Nah man, i'm done with that hipster rock. That scenes getting old man. I'm gonna hang back and listen to some Lord Finesse."