Hi @pranalipatel, I did it, but i tried to put my code in the funtions.php in my child-theme. Then I moved it to bp-custom.php file and now it is working!!!
add_action( 'plugins_loaded', 'ra_plugin_plugins_loaded', 10 );
function ra_plugin_plugins_loaded(){
add_filter( 'rtmedia_privacy_levels', 'ra_media_privacy_levels',10,1 );
}
function ra_media_privacy_levels($privacy_settings){
return [
'levels' => [
40 => __( 'Private - Visible only for allowed users', 'custom' ),
20 => __( 'Public - Visible to registered users', 'custom' ),
]
];
}