5G Multicast Broadcast Services (MBS) are viewed as a promising 5G New Radio (NR) application, as standardization begins in 3GPP Release 17. With MBS, one next generation Node B (gNB) delivers data to multiple user equipments (UE) simultaneously, thus improving spectrum efficiency. Millimeter wave (mmWave) beamforming further enhances system performance by focusing signals in a dedicated direction. However, despite the advantages, we identify three issues of multicast with beamforming techniques. First, link directionality causes the gNB to transmit data over the beams sequentially, resulting in a combinatorial resource allocation problem. Confronting this beam scheduling issue, we develop an optimization algorithm that obtains an optimal solution in polynomial time. Second, UEs may falsely report their valuations over beam resources to gain more utility. Under this scenario, the gNB cannot allocate the resources to those in need due to the lack of accurate UE information. Therefore, we propose a Vickrey-Clarke-Groves (VCG) auction-based mechanism to incentivize the UEs to reveal their valuations over resources truthfully. This mechanism guarantees solution efficiency and maximizes social welfare. Third, as 3GPP standards allow for different priorities for different multicast flows, and video content providers distinguish between ordinary and premium UEs, we take UE priority into account. In this regard, we extend the valuation-based mechanism to a multi-priority one. Finally, the mathematical analysis validates some desirable properties of the proposed scheme, such as incentive-compatibility. Simulation results also justify our superior performance in the 5G MBS system compared with other resource allocation schemes.