Hello Mike,
I heard that just a "thank you" can come off as arrogant. However, the bow might counter-act that (does it work for you?).
Are there more ways to express this other than just a thank you.
E.g. in English we might say:
I'm very happy to hear that!
I'm glad you liked it (for a performance or something like that)
It's very kind of you to say that.