The series was a ratings flop for ITV2 earlier this year, and Jain claimed that the show was correctly "unfavourably compared" to BBC One's The Apprentice.
Defending her commissioning of the show, Jain said: "Flops are painful. They are awful. But this job is a bit of a crapshoot. You never know what's going to work."
Giving her reasoning for the show's underwhelming ratings, Jain said: "We work in a world that is quite elitist and in reality lots of people don't care about the world of showbiz scoops outside the media world of London.
"I think I underestimated how alienated the audience would be by it."
Londoner Ellie Henman, 23, was the winner of The Exclusives and earned a job at Bauer Media.