No. New cards are already formatted properly. If you ever have to format a card, you can do so using Disk Utility or the Terminal.
You should be good to go for several hundred songs and a dozen additional drum sets.
If you have not yet read the BeatBuddy Manager (BBM) QuickStart Guide or User Manual, it will help you to understand the BeatBuddy (BB) as a system and how to accomplish some of the tasks you have questions about. Click on resources to learn a little bit more about the system and the forum.
If you need or want to buy a new card, consider a 32Gb SDHC CL 10 card. No need to get the most expensive. Use it as a backup card, especially if you’re a gigging musician.
There are tutorials and posts on how to put the default content on a new card.