We use gauge/gravity duality to study simultaneously the mass spectrum and the thermodynamics of a generic quasi-conformal gauge theory, specified by its beta function. The beta function of a quasi-conformal theory almost vanishes, and the coupling is almost constant between two widely separated energy scales. Depending on whether the gravity dual has a black hole or not, the mass spectrum is either a spectrum of quasinormal oscillations or a normal T=0 mass spectrum. The mass spectrum is quantitatively correlated with the thermal properties of the system. As the theory approaches conformality, the masses have to vanish. We show that in this limit, the masses calculated via gauge/gravity duality satisfy expected scaling properties.
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