This was one of Google's stated motivations for recently changing Pwnium from an in-person event similar to Pwn2Own (and held at the same conference 3/4 times, IIRC) to a more traditional year-round bug bounty.

Me, I'm going to miss the experience of sitting at the little dinky hotel cafe with bad Wi-Fi and frantically trying to finish up the exploit before the contest ends. And the press coverage was a bonus...