Changing replication snapshot folder, require re-snapshot?

We have a SQL 2012 SP2 server running on Server 2012.

We need to change the snapshot folder for all (including default) transaction replication publications.

I have read that this means the replication needs to be re-initialized?

Why is the case? If I update table msdb.dbo.MSdistpublishers with the new working_directory then I can't see why the replication should need to be re-initialized?

Any recommendations appreciated.