"I must tell you, I am retiring this year."

Aretha Franklin
Musical guest Aretha Franklin performs on Late Night With Seth Meyers on December 9, 2015.
| Credit: NBC

The Queen of Soul is relinquishing her throne. Aretha Franklin told Detroit TV station WDIV Local 4 that she plans to "retire" this year after the release of her new album.

"I must tell you, I am retiring this year," Franklin said. "This will be my last year. I will be recording, but this will be my last year in concert. This is it."

According to The Hollywood Reporter, Franklin's next album is expected to be released in September, along with a tour that includes only select dates. She won't have more than one date planned per month, and the full tour will last for around six months only.

Franklin, who's turning 75 this year, said the announcement is bittersweet because music is all she knows. She's been recording for 56 years.

She also adds that she's not retiring completely, although she plans to drastically cut back on performing in order to spend time with her grandchildren, who are leaving for college.

"I feel very, very enriched and satisfied with respect to where my career came from and where it is now," Franklin said. "I'll be pretty much satisfied, but I'm not going to go anywhere and just sit down and do nothing. That wouldn't be good either."