I suspected you didn't know what it was. No, that is not correct. Slang is language that is very informal, and is typically restricted to a particular context or group of people. Different subgroups have their own slang, and by using slang you show you belong to a certain group. Focus on learning standard English, that is what you are hearing in songs and movies. Slang varies greatly, not only between countries but within countries as well. Knowing slang is useless if you do not know standard English well.