function bp_replace_the_content( $content = '' ) {

	// Bail if not the main loop where theme compat is happening.
	if ( ! bp_do_theme_compat() ) {
		return $content;
	}

	// Set theme compat to false early, to avoid recursion from nested calls to
	// the_content() that execute before theme compat has unhooked itself.
	bp_set_theme_compat_active( false );

	/**
	 * Filters the content to replace in the post.
	 *
	 * @since 1.7.0
	 *
	 * @param string $content Original post content.
	 */
	$new_content = apply_filters( 'bp_replace_the_content', $content );

	// Juggle the content around and try to prevent unsightly comments.
	if ( ! empty( $new_content ) && ( $new_content !== $content ) ) {

		// Set the content to be the new content.
		$content = $new_content;

		// Clean up after ourselves.
		unset( $new_content );

		// Reset the $post global.
		wp_reset_postdata();
	}

	// Return possibly hi-jacked content.
	return $content;
}