Isn't that 50mm 1.8 made by and for Canon? Or does Nikon make a similar one too? I'm guessing they do, but I don't feel like looking it up.
I actually just got a new Canon camera with their 50mm f/1.8 lens and I am quite happy with it, although all I ever used before that I can compare it to was some 20-some-year-old 50mm f/2 that was on my parents' Pentax K1000. In my opinion, this lens f/1.8 really is quite sharp and good, especially for the price. But you're using a Nikon camera, so I'm not really being of much help :meh:
The best thing to do is just search around the internet for reviews of various lenses to see what's out there and what sounds like it would of the most use and value to you. With your current lens you already seem pretty well covered in terms of focal lengths that you might use to shoot a band, but if you're mostly shooting concerts of the bands playing then I think you might want to go with a nice wide-angle prime or an all-wide-angle zoom (basically staying below 50mm). A 50mm prime is very versatile and useful for lots of purposes, and might get you the most bang for your buck if you want a nice sharp lens that you can use for lots of different shots, or if you want one that you can use for good shots for lots of things when you're not shooting a band. If you want more portrait-like shots of the band (like group photos and such) then I think a longer lens would be better, as the longer you get the less distortion there is to the subject. Of course if you want all of this you can invest in a good zoom lens, but I don't know how much better it might be than what you have, nor at what price (I know nothing about the lens and I'm too lazy to research it lol). But I wish you luck in finding something that you'll like. If your current lens is as crappy as the one I upgraded from, then you'll probably be happy with anything