I will praise the Name of God with a song. (For praise of the Name of God, see Psalms 7:17; Psalms 9:2; Psalms 29:2; Psalms 34:3; Psalms 66:1; Psalms 68:4, etc.) And will magnify him with thanksgiving.
Thanksgiving had already, in Psalms 50:13, Psalms 50:14, been set above sacrifice.