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If we look at the term itself, I would say that it requires a few things:
#1) It has to be popular enough.
#2) It must be, at its core, the same thing over again
#3) It must be repeated at least three times, in short intervals of time, i.e. every year, twice a year, once every two years.

Some of these things aren't quantitative, and the ones that are have a grey area. Because of this, the term itself is extremely subjective.

edit: i.e. or e.g., either way the statement is mostly the same.