sorry for the vague title; I can't think of a clearer one.
You are listening to Friday Music World. Coming up next is a song sure to give you inspiration to heal the world: "Heal the World" by Michael Jackson.
See the second sentence in the paragraph above. And I can see two point of views:
1) The full sentence should be something like 'The song coming up next is~'. The subject is 'song', and 'coming' functions as adjective which modifies 'song'. Since the sentence is colloquial, 'The song' can be omitted because it's too obvious.
2) 'Coming' is a gerund, and it implies the meaning 'the next song' in this sentence. Therefore, 'coming' should be the subject here.
I think 1) is correct, but I am not sure about it. What is the right opinion? Thanks in advance.