In February 1999, the Whole Earth Blazar Telescope (WEBT) organization carr
ied out an optical campaign on the blazar S5 0716+71. This campaign had two
principal aims: to test the potential of such an optical telescope network
devoted to the study of blazar variability and to search for possible time
delays between variations in different optical bands. The main results of
this campaign are presented here. The six participating observatories colle
cted a large amount of optical data in UBVRI bands: 635 observations were p
erformed in the observing period from February 16.0 to 19.0, forming the de
nsest dataset ever obtained for a blazar during a 72-hour period. Besides c
onstructing continuous and dense optical light curves, this monitoring effo
rt has provided some very significant results. On one hand, we have determi
ned the steepest recurrent variation slope to be 0.002 mag per minute, on b
oth rising and decreasing phases, thus constraining the properties of the e
mitting region. On the other hand, an upper limit to the possible delay bet
ween B and I variations (10 minutes) has been fixed thanks to the high qual
ity and density of part of the dataset. Moreover, in a comparison with prev
ious data, we have discovered a long-term trend of the spectral index, impl
ying a steepening of the optical spectra and a shift of the synchrotron pea
k towards the infrared during the last five years.