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Discovery CEO David Zaslav expects U.S. ad revenue for the end of the year to come in below its previous guidance due to some weakness at its flagship channel.

Speaking at the 46th annual UBS Global Media and Communications Conference in New York on Monday morning, Zaslav said domestic ad revenue would come below the 3 to 5 percent increase the company previously predicted. Ratings at Discovery Channel have been lackluster in part due to production issues on "Fast N' Loud," which pushed the return of the show into early next year.

Zaslav is optimistic on the potential of skinny bundles and said the economics there are actually better for the company. As more people shift to these paired-down packages, Zaslav said that Discovery is poised to see an increase in viewership, and as a result, higher advertising revenue.

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