"It's very collaborative. I actually called in a lot of my friends who inspired me forever," Crow, 57, shared, adding that Eric Clapton, Sting, Willie Nelson, Mavis Staple, Brandi Carlile and many more are part of the project, set to be released August 30.
"It may be my final album, so I am going out big," she also revealed, before explaining that this doesn't mean she's going to stop creating music.
"I grew up in the age where people made albums," she explained. "But now, I think people do playlists and they will only hear one of two songs off a full-length album that you tried to make a full artistic statement. I kind of like the idea now of just putting out songs."
"[This will] not [be] my last music, but probably my last album project as a whole," Crow added.
Crow, meanwhile, is slated to perform her new single, "Prove You Wrong," with Maren Morris during the awards show telecast. The song also features Stevie Nicks, who was unable to attend the ceremony.
"I met [Maren] in a very early point in her career. She was actually looking for a record label and I heard some of her songs and I was like, 'This girl is going to be around a long time,'" Crow said of Morris, who she said was "like a goddaughter" to her and Nicks. "We kind of brought her into the fray and keeping it going."
See more of ET's 2019 CMT Music Awards coverage below.