Axis My India’s Pradeep Gupta, the chief of the renowned polling agency, recently made headlines by admitting that conducting exit polls is actually a loss-making venture for the company. In a candid interaction with PTI editors, Gupta disclosed that the primary reason for sustaining exit polls is the visibility they provide, not the profitability. He emphasized that 70% of Axis My India’s clients are corporate entities, which serve as the main source of revenue for the company.
Gupta shed light on the financial dynamics involved in conducting exit polls, mentioning that the substantial investments made on the ground outweigh any potential earnings from media houses. He explained that the only profit derived from exit polls is the visibility gained, which is not attained through market research for corporate clients. Additionally, Gupta shared insights into the incentives provided to surveyors based on the accuracy of their predictions, further detailing the trade-off between monetary loss and brand visibility.
The recent Lok Sabha elections saw Axis My India predict 361-400 seats for the BJP-led alliance, including a significant number in Uttar Pradesh. However, the actual results fell short of these projections, leading to scrutiny and questions regarding the accuracy of the predictions. Despite facing backlash and allegations of manipulating the stock market, Gupta remains open to all investigations, confident in the credibility of their data and systems.
Looking ahead, Gupta mentioned plans for a potential stock market listing once other business ventures within Axis My India become profitable. The company aims to expand its offerings and continue its legacy of accurate predictions in the future. With Gupta’s candid revelations, the world of exit polls and political forecasting faces a new perspective and a deeper understanding of the intricacies involved in conducting such surveys.
