The record debuted at number five on the music charts and none of the four singles released, including Legendary Child and What Could Have Been Love, made it onto the Billboard Hot 100.
While Perry insists the rockers will continue to make new music, he admits they're wary about putting out another album.
He tells RollingStone.com, "I'm obviously disappointed (our last album) didn't work out the way it was supposed to. But on the other hand, once a record is out, it's out forever..."
He continues, "Our contract to Sony is fulfilled and we're free agents right now. We're trying to figure out what that means. I don't even know if making new albums makes sense anymore. Maybe we'll just release an Ep every six months. I don't know what the future looks like."
Aerosmith are currently on tour in Europe.