The term 'SKYBOX SETTING' can be solved by the crossword solution 'ARENA', which is a five-letter word. An ARENA is an enclosed area, often circular or oval-shaped, designed to showcase theater, sports, or other performances. It is typically composed of a large open space surrounded on most or all sides by tiered seating for spectators. The term 'skybox' refers to a special type of seating in arenas, typically located at the highest level and offering the best views of the performance. Skyboxes are usually reserved for VIPs and offer additional amenities such as private bars and lounges. Therefore, the term 'SKYBOX SETTING' can be used to refer to an ARENA, where skyboxes are available.